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This Isn't a Good Sign for Tesla

For some, electric carmaker Tesla (TSLA) - Get Tesla Inc. Report can do no wrong. The company is changing transportation more so than Uber and Action Alerts Plus holding Alphabet (GOOGL) - Get Alphabet Inc. Report (Waymo) and as a result the stock is 500% undervalued. These folks have bought the Elon Musk hype hook, line and sinker. Elon not only deserves $2.6 billion in potential equity comp, but he should really get $5 billion. But this blinded bull camp better respect two recent developments that have happened at the company. Tesla's corporate treasurer and vice president, Susan Repo, has left Tesla, Bloomberg reported on Tuesday. The report said Repo departed to become chief financial officer at another company. Her LinkedIn profile hasn't changed, yet. Repo's exit comes a few days from Tesla's chief accounting officer Eric Branderiz leaving because of "personal reasons," said a filing with the Securities & Exchange Commission. Perhaps this is all a coincidence, a function of a high-achiever burning out (Branderiz has been on the grind since the late 1990s) and another wanting to be the top person in the finance department (Repo). Even still, losing two people overseeing the finances of a money-losing electric car company that has a history of execution missteps, weeks removed from the end of the first quarter, is a big red flag. Buyer beware.

Around the Horn

(1) iShares PHLX Semiconductor (SOXX) - Get iShares Semiconductor ETF Report will open at its highest level since March 2000 on Wednesday, reported Kinsey Grant; (2) Walmart (WMT) - Get Walmart Inc. Report is expanding its grocery delivery business to 100 metropolitan areas by year end, up from six currently. After reviewing earnings call transcripts from Walmart, Target (TGT) - Get Target Corporation Report , Kohl's (KSS) - Get Kohl's Corporation Report and others one thing has become clear: Amazon (AMZN) - Get Inc. Report better watch its back as bricks-and-mortar retailers are fighting back very hard (and creatively); Action Alerts Plus holding Facebook (FB) - Get Meta Platforms Inc. Report has slipped below its 50-day moving average -- not good seeing as tech stocks continue to rally big time. 

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