Tesla's stock is moving in the right direction, says Deepwater Asset Management's Munster

Core Insights - The investment case for Tesla hinges on its future potential, supported by significant liquidity of $41 billion, which is notably higher than GM and Ford's $23 billion each [2][4]. - The incremental miles driven for Full Self-Driving (FSD) remained stagnant at approximately 1.1 billion in September, indicating a potential inflection point that has yet to materialize [3]. - The stock is currently trading at a revenue multiple of about 13, which is higher than Apple's 9, suggesting that traditional valuation methods may deem Tesla overvalued [7][8]. Financial Position - Tesla's cash reserves increased by $4 billion sequentially, reaching $41 billion, providing ample liquidity for future investments [1][2]. - The company is positioned to leverage its financial strength to pursue growth opportunities, particularly in the realm of autonomous driving and electric vehicles [4][6]. Market Dynamics - The investing community is accustomed to volatility and unmet expectations from Tesla, particularly regarding FSD timelines, which may affect stock performance [5]. - The potential expansion of robo-taxi services in additional cities could serve as a significant catalyst for stock price movement [6]. Growth Potential - Analysts suggest that Tesla could experience multiple years of high growth, with projections of 30-40% growth if it successfully capitalizes on its technological advancements [9]. - The current market environment for Tesla is characterized as uncharted territory, with no historical valuation support, yet the company is seen as a leader in autonomy [10].