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1/ We in $TSLAQ have been divining what the credit markets might be telling us about $TSLA. Here are three credits (Gogo, Chesapeake, L Brands) with comparable yields to Tesla. This table shows the last 50 days of trading history and ranks by yield. 
2/ L Brands is a 6bil mkt cap woman’s apparel retailer whose bonds trade at 9.22% vs. 9.169 for $TSLA. Here’s the 5 yr stock chart for LB as well as a chart of LB bond prices as a bonus:
3/ Gogo is a 435mm mkt cap in-flight internet service (which is terrible BTW). Gogo bonds trade at 9.17% currently. Here’s is its 5 yr stock chart:
4/ Chesapeake Energy is a 3.2bil mkt cap E&P company. Also trading at 9.17% like Tesla. Here is CHK's 5 yr stock chart:
5/ Just for giggles, here is the WeWork bond in all its glory. WeWork 7.875% HY issue now trades at 9.375%, or at a spread of 741 over treasuries. Lots of luck doing equity here. . . Or, better yet, where would Uber and Lyft debt trade if public?
6/ All of the stock charts shown previously are telling the same story: these are all moderately stressed credits headed in the wrong direction.
There have been many data points in Tesla seemingly in conflict with each other. The bond and stock and action used to be one, but that appears to have changed now, probably permanently. That’s a good thing for investors, bad for the company
