I think Suncor is riskier than Tesla nowI didn't sell my Tesla.
I know that I missed a trading opportunity by I'm not a trader other than doing flips of non-core postions for fun.
I promised myself that I wouldn't sell Tesla until I saw clear evidence that the company has lost its direction. The exact opposite is true. The fact that the spoon fed media is blathering nonsense without doing any research just helps investors that are willing to put in the work.
I'm hoping Tesla shares keep dropping despite holding a large position. I have cash waiting to increase my position by another 50,000 TSLA CDR's. I have been holding off buying more Tesla, but I will probably end up buying too soon. Almost all retail investors buy too soon when the market drops.
I expect Tesla to increase 5x from the current price in the next 3 years. If the share price can drop another 20% "just because people are afraid of what they read in the media" the math jumps over 6x. Regardless of what I end up paying, I can wait for the payoff.
I like SU. As I have stated previously, I think it could eventually reach $60 per share in a couple of years once the market stops punishing investors. If and when the company provides a plan that excites me, I might get enticed to get back in. Until then, I just can't get excited by Suncor when there are much better opportunities available.
I was late to the game with Tesla as I couldn't justify the crazy high share prices when they weren't making money. In fact, Tesla nearly went bankrupt in 2017/2018.
Today, I see Suncor as a riskier investment than Tesla because Tesla has mitigated its risk to virtually zero and is growing at 50% per year while SU faces what eventually will be a declining market for oil and the company is focused on cost cutting instead of growth.
With a Trudeau government looming for possibly the rest of our lives, there is a very good chance that SU will not be able to get additional excavation permits. However, the real risk is the risk of missed opportunity.
As our resident oilaholic MigraineCell recently stated, he couldn't sleep at night knowing the opportunity cost of not being invested in oil. I feel the same way about Tesla.
If nukes start flying, it won't matter anyway.