Warehouse is a battlefield, and one that is so volatile, it's hard to ever think that it's a simple effort. However, a Wall Street strategist has only included the Tesla share in his basket of "Granny Shots."
Fundstrats Thomas Lee uses the term Granny Shot to refer to stocks that appear in more than one of the company's thematic curves of stocks. There are six baskets in all: Style Tilt; season ~~ POS = TRUNC; LAP; Millennials; Work Card; and Asset Intensity Reversal.
Approximately 27 stocks are displayed in multiple baskets.
stock (GOOGL) is displayed in five.
Philip Morris International
(FB), and yes, Tesla stock (TSLA) is shown in three. The portfolio has increased by 5% in 2019, subsequently
The term "granny shot" is a reference to a basketball player shooting foot, especially free throws, underhanded. For players who struggle at the free pace, it can be an easier way to make these shots – if it is a little embarrassing. (Rick Barry used it to beat 89% of his free throw, Shaquille O & # 39; Neal despite refusing to shoot only 53% off the line during his career.)
I'm not sure anyone Time would consider Tesla a Granny Shot at least not as I usually think of the term. There is a need for cash, difficulty in winning profits, and other issues make it most controversial, and certainly not the high percentage of the game I attach to grandma's.
But it absolutely meets Lee's requirements. It appears that he has stocks that will benefit thousands of expenses and artificial intelligence and automation. Fundrates also include that in the basket of stocks that benefit from the major tech-FANGs tendencies to surpass in different years.
Tesla has obviously had a very tough 2019. The Tesla share closed down 1.2% on Thursday, to 241.98 per share, and is around 29% this year. CEO Elon Musk has struggled with the SEC, and the company recently had to announce a capital increase.
Result: Tesla can be a Granny shot, but there are no setups.
Write to Ben Levisohn at Ben.Levisohn@barrons.com