Independent research on the U.S. markets, Baptista Research

Baptista Research

Independent research on the U.S. markets

Baptista Research is an independent financial research house focused on the U.S. markets. We provide equity research as well as credit research reports on the top-listed U.S. companies with most of our focus on technology, consumer goods and services, automobiles, industrials, oil and gas, pharma, and healthcare. Our research has served more than 3000 institutional investors including mutual funds, hedge funds, banks, family offices, and various buy-side firms. We operate a research subscription service where institutions, as well as retail investors, can have priority access to all our research. We also have a wide distribution of our research reports across some of the top global financial platforms. Apart from equity research and credit research, we also provide advisory services with respect to mergers & acquisitions (M&A), private equity/ venture capital fundraising, valuation reports, and investment management services for corporates.
Baptista Research is owned and managed by Ishan Majumdar, an ex-Venture Capitalist/ Investment Banker, a Chartered Accountant, and a Masters’ degree holder in Management from HEC Paris. Ishan has nearly a decade of experience in Mergers and Acquisitions, Leveraged Buyouts (LBOs), Venture Capital Investing, Corporate Strategy, and Valuation in front-office roles at the likes of BNP Paribas CIB, Credit Agricole CIB, Groupe Danone, and TIW Private Equity. He has worked on and closed multiple acquisition deals, leveraged buyouts, and start-up investment transactions.

Equity Bottom-Up

<ul><li>Tesla’s latest earnings and strategic updates present a revealing picture of a company navigating an increasingly complex path.</li><li>The electric vehicle and clean energy giant is caught between near-term financial pressure and long-term ambitions rooted in AI, autonomy, and robotics.</li><li>While recent quarterly results missed Wall Street’s expectations—adjusted earnings came in at 40 cents per share and revenue dropped 12% year-over-year to $22.5 billion—investor focus has shifted beyond EV sales.</li></ul>

Tesla’s latest earnings and strategic updates present a revealing picture of a company navigating an increasingly complex path.The electric vehicle and clean energy giant is caught between near-term financial pressure and long-term ambitions rooted in AI, autonomy, and robotics.While recent quarterly results missed Wall Street’s expectations—adjusted earnings came in at 40 cents per share and revenue dropped 12% year-over-year to $22.5 billion—investor focus has shifted beyond EV sales.

Tesla Continues To Stumble As Musk Warns of “Rough Quarters”—Here’s What’s Really Going On!

Asian Insight Provider - Actionable ideas, CrossASEAN Research

Henry Soediarko

Asian Insight Provider - Actionable ideas

CrossASEAN Research

At CrossASEAN Research we strive to produce unbiased and differentiated on the ground insights on companies across South East Asia. Our Research is produced for the most part after face to face meetings and conversations with company management to dig deep into the long term vision and strategy of the companies we cover. We seek to deliver investable and actionable themes on sectors and markets across SE Asia, often in collaboration with other Insight Providers across the region, pooling the vast experience of the analysts within the Smartkarma Ecosystem. We also offer bespoke work and tailor made trips for our clients. 

Insights across South East Asia

<ul>
<li>Not impressive earnings result for 2Q25 as revenue fell 12%, led by a weaker EV sales followed by lower sales from the renewable energy division as well.  </li>
<li>The highest-margin business contributor, regulatory credit, may be gone soon as recently the US government removed the financial penalty for higher emissions. </li>
<li>
<a href="https://www.smartkarma.com/entities/tesla-inc" target="_blank" data-smartkarma-citation="entities:20279:1" rel="noopener">Tesla (TSLA US)</a> is trading at premium compared to its Chinese counterparts such as <a href="https://www.smartkarma.com/entities/byd-co-ltd-h" target="_blank" data-smartkarma-citation="entities:20962:1" rel="noopener">BYD (1211 HK)</a> , <a href="https://www.smartkarma.com/entities/nio-inc-2d526675-c878-4104-840f-87fed1735e85" target="_blank" data-smartkarma-citation="entities:35652:1" rel="noopener">NIO (9866 HK)</a> and <a href="https://www.smartkarma.com/entities/xpeng-inc-4cc65854-d10c-4d20-bf7e-ca0e016715ff" target="_blank" data-smartkarma-citation="entities:33772:1" rel="noopener">XPeng (9868 HK)</a> .</li>
</ul>


Not impressive earnings result for 2Q25 as revenue fell 12%, led by a weaker EV sales followed by lower sales from the renewable energy division as well.  
The highest-margin business contributor, regulatory credit, may be gone soon as recently the US government removed the financial penalty for higher emissions. 

Tesla (TSLA US) is trading at premium compared to its Chinese counterparts such as BYD (1211 HK) , NIO (9866 HK) and XPeng (9868 HK) .


Equity Derivatives and Volatility Specialist, Clifton Derivatives

John Ley

Equity Derivatives and Volatility Specialist

Clifton Derivatives

Independent derivative and volatility research firm focusing on events/catalysts, earnings, relative value and cross asset volatility strategies.

Equity Derivatives

<ul>
<li>TSLA is set to report Q2 earnings after the close on Wednesday, July 23, following a 28% rally since its last report.</li>
<li>We examine implied vol and the projected earnings-day move, which may be underpricing event risk.</li>
<li>Volatility positioning and historical earnings reactions are assessed to help frame expectations.</li>
</ul>


TSLA is set to report Q2 earnings after the close on Wednesday, July 23, following a 28% rally since its last report.
We examine implied vol and the projected earnings-day move, which may be underpricing event risk.
Volatility positioning and historical earnings reactions are assessed to help frame expectations.


TSLA Q2 Earnings: Options Appear Complacent Vs. TSLA’s Volatile History

<ul><li>Tesla is no stranger to controversy or disruption, but the last few months have tested even the most loyal investors’ patience.</li><li>From tumbling sales figures in Europe to regulatory scrutiny over its robotaxi ambitions, Tesla is navigating a turbulent phase.</li><li>The electric vehicle (EV) pioneer, long regarded as a trailblazer in innovation, is now dealing with intensified competition from Chinese automakers, public backlash linked to Elon Musk’s political involvement, and growing concerns over the safety and readiness of its autonomous vehicles.</li></ul>

Tesla is no stranger to controversy or disruption, but the last few months have tested even the most loyal investors’ patience.From tumbling sales figures in Europe to regulatory scrutiny over its robotaxi ambitions, Tesla is navigating a turbulent phase.The electric vehicle (EV) pioneer, long regarded as a trailblazer in innovation, is now dealing with intensified competition from Chinese automakers, public backlash linked to Elon Musk’s political involvement, and growing concerns over the safety and readiness of its autonomous vehicles.

Tesla Trouble: Why Elon’s EV Empire Is Facing a Perfect Storm of Crises!

Quantitative Researcher, MRM Research

Nico Rosti

Quantitative Researcher

MRM Research

Quantitative Research

<ul>
<li>2025 has been a tumultuous year for <a href="https://www.smartkarma.com/entities/tesla-inc" target="_blank" data-smartkarma-citation="entities:20279:1" rel="noopener">Tesla (TSLA US)</a>, the stock struggled due to weakening sales, and CEO Elon Musk's role in the US government has damaged the brand.</li>
<li>
Rumors of Tesla’s board seeking to replace Elon Musk are likely unfounded. A leadership change could backfire. The stock is up 26% since Musk signaled reduced involvement in government affairs.
</li>
<li>Despite rising competition from <a href="https://www.smartkarma.com/entities/byd-co-ltd-h" target="_blank" data-smartkarma-citation="entities:20962:1" rel="noopener">BYD (1211 HK)</a> and others, <a href="https://www.smartkarma.com/entities/tesla-inc" target="_blank" data-smartkarma-citation="entities:20279:1" rel="noopener">Tesla (TSLA US)</a>  remains a top pure-play EV maker. The current pullback could present a potential buying opportunity.</li>
</ul>


2025 has been a tumultuous year for Tesla (TSLA US), the stock struggled due to weakening sales, and CEO Elon Musk's role in the US government has damaged the brand.

Rumors of Tesla’s board seeking to replace Elon Musk are likely unfounded. A leadership change could backfire. The stock is up 26% since Musk signaled reduced involvement in government affairs.

Despite rising competition from BYD (1211 HK) and others, Tesla (TSLA US)  remains a top pure-play EV maker. The current pullback could present a potential buying opportunity.


TESLA (TSLA US) Tactical Outlook Amid Rumors of Elon Musk's Replacement

United States

Tesla Inc. operates as a multinational automotive and clean energy company. The Company designs and manufactures electric vehicles, battery energy storage from home to grid-scale, solar panels and solar roof tiles, and related products and services. Tesla owns its sales and service network and sells electric power train components to other automobile manufacturers.

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Tesla (TSLA US)

Tesla Continues To Stumble As Musk Warns of “Rough Quarters”—Here’s What’s Really Going On!

Tesla’s latest earnings and strategic updates present a revealing picture of a company navigating an increasingly complex path. The electric...

Baptista Research

Tesla (TSLA): Go Short

Tesla's 2Q25 earnings disappoint with a 12% revenue drop, driven by weak EV and renewable energy sales. Regulatory credit, a key profit driver,...

Henry Soediarko

TSLA Q2 Earnings: Options Appear Complacent Vs. TSLA’s Volatile History

With implied vol compressed and recent price action elevated, we assess whether the options market is underestimating risk.

John Ley

Tesla Trouble: Why Elon’s EV Empire Is Facing a Perfect Storm of Crises!

Tesla is no stranger to controversy or disruption, but the last few months have tested even the most loyal investors’ patience. From tumbling...

Baptista Research

TESLA (TSLA US) Tactical Outlook Amid Rumors of Elon Musk's Replacement

Tesla's had a tumultuous year so far, struggling sales and a damaged brand from CEO Elon Musk's government involvement, but we see a potential...

Nico Rosti

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Tesla Continues To Stumble As Musk Warns of “Rough Quarters”—Here’s What’s Really Going On!

Tesla’s latest earnings and strategic updates present a revealing picture of a company navigating an increasingly complex path. The electric...

Baptista Research

Tesla (TSLA): Go Short

​Tesla's 2Q25 earnings disappoint with a 12% revenue drop, driven by weak EV and renewable energy sales. Regulatory credit, a key profit driver,...

Henry Soediarko

TSLA Q2 Earnings: Options Appear Complacent Vs. TSLA’s Volatile History

With implied vol compressed and recent price action elevated, we assess whether the options market is underestimating risk.

John Ley

Tesla Trouble: Why Elon’s EV Empire Is Facing a Perfect Storm of Crises!

Tesla is no stranger to controversy or disruption, but the last few months have tested even the most loyal investors’ patience. From tumbling...

Baptista Research

TESLA (TSLA US) Tactical Outlook Amid Rumors of Elon Musk's Replacement

​Tesla's had a tumultuous year so far, struggling sales and a damaged brand from CEO Elon Musk's government involvement, but we see a potential...

Nico Rosti

Tesla's 2Q25 earnings disappoint with a 12% revenue drop, driven by weak EV and renewable energy sales. Regulatory credit, a key profit driver,...

Tesla's had a tumultuous year so far, struggling sales and a damaged brand from CEO Elon Musk's government involvement, but we see a potential...