In today’s briefing:
- Tesla Earnings Preview: Cash Flow Negative And An Elephant In The Room
- TopBuild: Another Splendid GARP Opportunity
- Is StETH Liquid Enough?
Tesla Earnings Preview: Cash Flow Negative And An Elephant In The Room
- China accounts for over half of the automaker’s global sales.
- There is also potential for Chinese brands to encroach on European markets.
- Tesla’s valuation could be impacted by protectionism and nationalism, with questions over how China will tolerate overseas competitors in its electric vehicle market.
TopBuild: Another Splendid GARP Opportunity
- The stock has surged by more than 60% since the turn of the year.
- The company’s acquisition strategy has resulted in significant market share and an ever-improving profit & loss statement.
- The stock’s PEG ratio of 0.26 speaks volumes.
Is StETH Liquid Enough?
- Three Arrows Capital famously blew up because of a series of bad trades, primarily Luna and GBTC.
- What happened to Luna is obvious: it went to 0 because of UST’s flawed peg maintenance mechanism.
- The GBTC situation was a bit more complex: “Grayscale allowed big investors like 3AC to purchase shares directly by giving Bitcoin to the trust.
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