{
  "docId": "019dd923-622c-750b-8b97-cc3ea38033d2",
  "docSlug": "de846e7e7437",
  "documentTitle": "Tesla, Inc. (TSLA)",
  "authorId": "52_Citron_Research",
  "authorName": "Citron Research",
  "documentKindSlug": "research-note",
  "documentKindLabel": "Research note",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2018-10-23 00:00:00",
  "orientation": "portrait",
  "aspectRatio": 0.77272725,
  "pageNumber": 1,
  "pageCount": 9,
  "prevPage": null,
  "nextPage": 2,
  "slideType": "thesis_headline",
  "function": "frame_situation",
  "density": "dense",
  "nDataPoints": 0,
  "notes": "This is a pivot slide from a famous short-seller reversing their stance.",
  "elementsJson": [
    "headline_text",
    "paragraph"
  ],
  "metadataConfidence": 1,
  "imagePath": "https://imgproxy.kitesheet.com/vIjJjdCN-LU_BM0GwYrCHRsU3VDTy4sD9jywPdKJa0g/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9kZTg0NmU3ZTc0MzcvcDAwMS5wbmc",
  "slideHref": "/slides/019dd923-622c-750b-8b97-cc3ea38033d2/1",
  "deckHref": "/decks/019dd923-622c-750b-8b97-cc3ea38033d2",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b97-cc3ea38033d2.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b97-cc3ea38033d2#slide-1",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "Plain and simple -- Tesla is destroying the competition.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-5370-75b3-9c56-4045e51b195b",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.1,
        "w": 0.72,
        "x": 0.14,
        "y": 0.25
      },
      "kind": "paragraph",
      "text": "As much as you can't believe you are reading this, we can't believe we are writing this! The most challenging part of being a short seller is to constantly check your thesis to make sure nothing has changed.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "24a60633-62b5-40c0-8f0a-44a83144ddaa",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.72,
        "x": 0.14,
        "y": 0.59
      },
      "kind": "paragraph",
      "text": "While the media has been focused on Elon Musk's eccentric, outlandish and at times offensive behavior, it has failed to notice the legitimate disruption of the auto industry that is currently being DOMINATED by Tesla.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "4725c77e-05a9-419d-a81e-3a89bd827fff",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.72,
        "x": 0.14,
        "y": 0.71
      },
      "kind": "paragraph",
      "text": "Plain and simple -- Tesla is destroying the competition. These few charts illustrate what is happening in the car industry the past few months:",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "72bcd03b-584d-43fd-90ad-9dda9ab57d77",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.72,
        "x": 0.14,
        "y": 0.36
      },
      "kind": "paragraph",
      "text": "It is in that spirit and with a great deal of analysis and due diligence that we can say for the first time, Citron is long Tesla as the Model 3 is a proven hit and many of the TSLA warning signs have proven not to be significant.",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "fbb2030a-37f4-4c62-b189-b7e7330adbca",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.05,
        "w": 0.72,
        "x": 0.14,
        "y": 0.47
      },
      "kind": "quote",
      "text": "By the time this product is even approaching market, there will be multiple other 200-mile range plug-ins that have been out for years.",
      "attrs": null,
      "subkind": "pull-quote",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "d1b3965e-be96-4470-a58b-c2750b6cf172",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "By the time this product is even approaching market, there will be multiple other 200-mile range plug-ins that have been out for years. — Citron Research (from 5 years prior)",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-5370-75b3-9c56-458611c97ab7",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.08,
        "w": 0.64,
        "x": 0.18,
        "y": 0.13
      },
      "kind": "title",
      "text": "Citron reverses opinion on Tesla. The story has become too compelling to ignore.",
      "attrs": null,
      "subkind": "headline",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "3651703a-dd56-4cdf-a249-4c633696cb9c",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.02,
        "w": 0.15,
        "x": 0.14,
        "y": 0.68
      },
      "kind": "title",
      "text": "What has changed??",
      "attrs": null,
      "subkind": "subtitle",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "bb5d833f-b8ca-432d-94bb-3081d27161c6",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [
    {
      "to": 1,
      "from": 1,
      "beatId": "40fa265d-d262-4d84-878b-e29a22adb1be",
      "arcName": "Problem-Agitate-Solution",
      "arcSlug": "problem-agitate-solution",
      "beatName": "Situation & Context",
      "beatSlug": "consultants-gambit-situation-context",
      "evidence": "The thesis headline sets the stage for the updated opinion.",
      "position": 0,
      "confidence": 0.8,
      "parentBeatName": "Setup",
      "parentBeatSlug": "setup"
    }
  ],
  "loops": [
    {
      "to": 9,
      "from": 1,
      "name": "Cost Of Inaction",
      "slug": "27-cost-of-inaction",
      "bestFor": "Urgent budget requests, compliance, risk mitigation",
      "matchId": "c5d53ad2-271e-416c-a86c-96b4aa9416d8",
      "evidence": "The document presents a clear and compelling case for why investors should reconsider their opinion on Tesla.",
      "position": 0,
      "objective": "Highlight the cost of inaction for investors who ignore Tesla's story",
      "structure": "The Status Quo -> The Hidden Costs Accumulating -> The Future State of Inaction -> The Tipping Point",
      "confidence": 0.7,
      "description": "Quantify what happens if the audience does nothing"
    }
  ],
  "imagePathAlt": "https://imgproxy.kitesheet.com/CXi8CQhDNh6TKAUvqh4KFZC7iDjrN8zc9474uUJe7cw/rs:fit:1200:1200:0/q:82/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9kZTg0NmU3ZTc0MzcvcDAwMS5qcGc",
  "thumbSrc": "https://imgproxy.kitesheet.com/_sUC_oz8j5H803bKVN99y9MQG0V0aGTNEQcPDUAOAAs/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9kZTg0NmU3ZTc0MzcvcDAwMS5wbmc",
  "thumbSrcAlt": "https://imgproxy.kitesheet.com/JAS9Tt-SCQXnKwxpea5WLypjNcSKYQMoyxKjR3JGViI/rs:fit:480:480:0/q:78/f:webp/czM6Ly9raXRlc2hlZXQvY29ycHVzL3NsaWRlcy9kZTg0NmU3ZTc0MzcvcDAwMS5qcGc"
}