Jim Chanos

@librab103 @grantbelden Tesla’s FSD software packages have been in development for 12 years now. And despite what their fanboys claim, this delay has allowed others to catch up to/surpass them. And I still believe a basic L4 package will be “standard equipment” on most cars in the early 2030’s. $TSLA

One-on-one vs Optimus…?! $TSLA

Grok seems to think automotive OEM’s should trade at 200x earnings. Grok is drunk.

Good thread on the hangover from the Chinese Property Bubble.

I think this episode ran during the https://t.co/KzzERVlR7L bust.

For those of you who haven’t noticed, $TSLA used lease accounting to not run $2.8B of additional 1Q capex through the Statement of Cash Flow (FY 2025 was $1.9B in total). If they had, FCF would’ve of course been negative. https://t.co/JSCZqjbmNX

@EdwardAmar46469 They love it at $80, too. Virtually every sell-side analyst has a “Buy” rating on $HOOD. This would appear to be a conundrum for you.

So JP Morgan cut its $HOOD EPS estimates today, such that they think 2026 will be below 2025, and even more interestingly, 2H 2027 will be below 2H of 2025! With equity markets at all-time highs. And still at 40x non-growing EPS. https://t.co/YNBHYCAdcF

In case you missed it, this matter-of-fact admission by Musk on further $TSLA FSD/Robotaxi rollout delays due to safety issues is pretty stunning, if you step back a bit. https://t.co/pCl4QaHhab

Musk literally claimed this was not the case for years, despite all evidence to the contrary. And sold expensive FSD packages to owners of HW3 vehicles during that period. $TSLA

Always important to read the fine print with $TSLA. There were “one time benefits” in the 1Q from tariffs (Rebates?) and warranty expense. https://t.co/KNwar2GllF

Um, isn’t that why @SpaceX “bought” xAI for $250B…?!

Wait, what…?!

A massive capex boom wherein the sellers recognize revenues and profits while the buyers capitalize the costs, will do that. Look at mid-1998 to mid-2000, when S&P 500 profits rose 30%. Then look at the next twelve months when order books collapsed. https://t.co/BSx1CklqDK

I’m sure paying over 50x for 2026 “Gain-on-Sale” profits will workout just fine, with $CVNA’s prime paper deteriorating.

Line of the Season from Frenchie on “The Boys”. https://t.co/i6W2viTttT

So Avis Budget Group ($CAR) has negative equity, loses money, has almost $25B in net debt with negative FCF. And is now trading at 60x 2028E hoped-for EPS. No position, but where is the Board here…?! They should be selling equity as fast as possible at these prices.

I see that $LYV, with no FCF and still trading at over 100x earnings and almost a $50B EV, has been completely de-risked now that it lost in court. https://t.co/yotTBa2K72

Time for another narrative change at $TSLA. Who needs FSD and Robotaxi’s when you can spend $5-13T on AI chip fabs?! That’s only 16-40% of US GDP. https://t.co/WY1jWoAqkZ (2) And just so we’re clear how absurd these numbers are, the $NVDA + $TSM complex is doing about $340B in annual revenues, on $200B of invested capital. At 50x that amount of capital ($10T)a comparable amount of revenue would be $17T, or 90% of the entire revenue of the S&P 500!

Residential solar company Freedom Forever files chapter 11 bankruptcy | Another one bites the dust. $RUN (Ht: @gordonjohnson19) https://t.co/tVGzfNxlAG

Penalties will be set by the judge in the near future. Divestiture would be material at 100x earnings. $LYV

@KlendathuCap @BluthCapital What exactly is the “take”? Seems like a statement of fact to me.

Capital-lite models transforming into capital-intensive ones. Now playing at a Silicon Valley theater near you.

So with all the big splashy deals that $CRWV has announced this month, 2027-28 estimates have actually DECLINED in April…?! https://t.co/0lsrTtGef0

Et tu, Grandma DoorDash…?!

You mean to tell me there might be more than one robotics vendor in the future…? With some in China?

One of the OG retail TAM stories. $BYND

#GoldenAge

@BobGrayson15 (2) And based on recent results (December Q, annualized) we know that $CRWV would be losing money using 10-yr life(!) on its GPU’s. Indeed, their pre-tax ROIC using 10-yr life would only be 3.1%, well below even their lowest debt cost. So the insider sales are not surprising. https://t.co/z2rjMJbPZJ

@aakashgupta (2) Did no one look up from their Excel model and say, “Wait a minute…”?!