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2 Stocks to Watch: Tesla and Chevron

publication date: Oct 23, 2023
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Image: Tesla. 

Tesla’s third-quarter report could have been a lot better, and Elon Musk’s comments that they “have dug (their) own grave with the Cybertruck” weren’t reassuring. Nonetheless, the company continues to generate free cash flow, and its balance sheet remains pristine with a very nice net cash position. We won’t be adding shares of Tesla to any newsletter portfolio, but given the price drop in its equity during the past week, we think most of the bad news is already embedded in the stock. As for Chevron, the company was once a darling stock in the newsletter portfolios, but we’ve moved beyond this big winner in both the Best Ideas Newsletter portfolio and Dividend Growth Newsletter portfolio after the huge “gains” the past 12-18 months. Shares still yield an attractive 3.6%, however, and we'll have more to say about its tie-up with Hess as more details come to light.


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