(excerpt)

As Tesla Inc. faces questions about whether demand for the Model 3 compact car is slowing, Chief Executive Elon Musk wants investors to focus on the auto maker's road much farther ahead: vehicles driving themselves in a robot-taxi fleet.

Mr. Musk is gathering investors Monday to reveal the electric-car maker's latest efforts to develop self-driving car technology and his strategy for deploying it. The presentation at its Palo Alto, Calif., headquarters is scheduled two days before Tesla reports quarterly financial results, which are expected to show a loss on slumping vehicle sales.

The week's twin billing encapsulates the polarizing nature of Tesla, which has sharply divided investors between skeptics and believers. Monday's event will likely showcase Mr. Musk as the exuberant salesman pitching his futuristic vision for Tesla. First-quarter results, on the other hand, are backward looking by definition and could prompt a defense of operational struggles.

Some investors praised Tesla's decision to highlight its driverless-car technology because they think it is a reason to value Tesla more highly than other auto makers. Those betting against the company said the investor day is a marketing stunt ahead of anticipated bad news.

"I've seen this movie before," said David Kudla, CEO of Mainstay Capital Management, a short seller of Tesla stock. "Whether it's launching the Tesla into space, whether it's some sort of product reveal or some grand announcement that comes a day or two before earnings." ...

 

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Disclosure Information - Rankings and Awards

Barron's Magazine - Top 100 Independent Wealth Advisors

According to Barron’s: The rankings are based on data provided by individual advisors and their firms. Advisor data is confirmed via regulatory databases, cross‐checks with securities firms and conversations with individual advisors. The formula Barron’s uses to rank advisors is proprietary. It has three major components: assets managed, revenue produced and quality of practice. Investment returns are not a component of the rankings because an advisor’s returns are dictated largely by the risk tolerance of clients. The quality of practice component includes an evaluation of each advisor’s regulatory record. The data is based on one fiscal year (7/1/22 - 6/30/23) and appeared in Barron’s on 9/18/23.


Schwab IMPACT Awards®

The Charles Schwab & Co., Inc.’s IMPACT Awards® program recognizes excellence in the business of independent financial advice. Nominees are evaluated and selected by a panel of prominent leaders from both the business world and the financial services industry. Mainstay Capital Management does use Charles Schwab to custody certain client assets, however there was no direct compensation provided to be nominated for this award. Mainstay Capital Management received this annual award on November 15, 2017.