I believe all their current main stream competitors (Ford/GM/Volvo/Toyota/Honda) are all going to be facing serious challenges. I worked on some projects for car dealerships and the surprising profits come from their maintenance. I just don't see how you can make money with maintenance on an electric car so I think they will shut down like Blockbuster. The issue we found was when the electric cars make it to the floor, the sales rep has no incentive to sell it because their dealership will go out of business. I haven't had someone give me a logical explanation to avoid this. Either we get mass dealership bankruptcies, or the dealers get bought out by the company. The best dealers I know got out a few years ago.

The other part is they are giving away all their trade patents and want to create competition. When I play Madden and I am up 14-0 late in the first, I like to keep others in the game otherwise their wifi drops and it feels like Tesla is doing the same with their competition.

Another argument in my mind is what I learned from BlackBerry and Apple. When I first got into BB, it was the market leader and their financials were off the charts. I understood market cap and numbers and it just made financial sense but the market is forward looking and when Apple took over I missed the boat and sat for a long time with shares. During that time Apple (the company whose products I hated because it was so simple and restricted) went from a cool tech company (Jobs) to a business company (current CEO) and my thought at the time was the market would kill them as they no longer are going to be a cutting edge innovative company, however, that was just the start of Apple as they were finally making real money and gouging everywhere. Also at the same time, BlackBerry made profits for a single quarter and its stock started rallying however their product was dying and the consumers had lost faith in it and were looking for something fresh. The first BlackBerry Z10 is basically what Android 10 and iOS is today yet the market didn't want it.

This is what I see is happening in Tesla now. You have a company finally making money. They have an innovative product and are still a tech company. Everyone in the energy space wants to work for them also. I like to think I worked with some of the smartest solar electricity engineers in Canada and the some of smartest ones are now working at Tesla now. They just made profits which the market loves, they were announcing BlackBerry is back when that happened. I haven't had enough cash to hold Tesla as I lost most of my net worth on BlackBerry but my first position was early 2013/2014 with 200 shares and made 30% got out. Then I got in around $390 before it split and sold around the $1600 mark. I bought in again after the split and I am going to continue adding to the position, currently up about 30% again.

Also the fundamental business side of me sees them getting added to the S&P 500 so I would expect they are going to be bough heavy so I am planning to add more to my position soon.

Disclaimer: I also saw the Elon manifesto pretty early on, 2006 and was convinced this is the future but I was still interested in buying Canadian so I supported BlackBerry.

TLDR: Canadian who bought BlackBerry and got burned. Learned from it and bought TSLA now. Leading product, finally making money, everyone wants to work for them and they seem to not care about competition.