I admire what Tesla has been able to achieve from a technological and a marketing point of view but I wouldn't call their business "fundamentally solid". Tesla

I admire what Tesla has been able to achieve from a technological and a marketing point of view but I wouldn't call their business "fundamentally solid". Tesla stock has been one of the most heavily shorted equities for some time and it's because their balance sheet is a train wreck while their valuation is sky-high. Tesla burns cash at a phenomenal rate and regularly has to take on debt and / or raise new capital through equity offerings in order to stay in business. Of course they have to invest in the future- automobile manufacturing is a highly competitive, extremely capital intensive business and every OEM (Ford, GM, Toyota, Volkswagen,..) has to regularly invest huge sums of money in staying relevant. Tesla is no different in that regard.