Tesla: the price cuts bought volume and gave back the margin

The driver is price elasticity. Each price cut trades margin for volume, and when the volume response decays the trade becomes value-destructive rather than share-accretive. The elasticity is measurable across the price actions. Incremental volume per point of price reduction has declined with each successive round. The position: short on Tesla, entry locked at publication and the exit dated rather than open-ended. The target is stated in the call block above and the horizon with it. Sized to the catalyst rather than to conviction, with the invalidation written into the kill-switch card instead of left implicit. A genuine demand re-acceleration would restore elasticity and invalidate the pricing argument.