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Illustration: Sarah Grillo / Axios

Tesla has a market value of nearly $48 billion, making it one of the 150 most valuable companies in America. Yet Nomura Instinet analyst Romit Shah today put out research saying that Tesla is "no longer investable."

The reason: What Shah refers to as "the erratic behavior of Elon Musk."

Shah says that Tesla could be a good bet with a different leader, but chaos monkey CEOs aren't the only reason that securities are sometimes considered uninvestable.

  • The S&P 500 won't include unprofitable companies, which is why Tesla isn't in the index.
  • Memories are still raw when it comes to synthetic derivatives, which no one really understood and which therefore no one should have been investing in before the financial crisis.
  • Similar arguments can be and often are made about cryptocurrencies, today.
  • Environmental, social, and governance considerations can also make a stock uninvestable.
  • Many investors won't touch gun manufacturers, for instance, or tobacco companies, or companies like Snap which give shareholders no voting rights.

Go deeper

1 hour ago - World

China and Russia vaccinate the world — for now

Illustration: Aïda Amer/Axios

While the U.S. and Europe focus on vaccinating their own populations, China and Russia are sending millions of COVID-19 vaccine doses to countries around the world.

Why it matters: China's double success in controlling its domestic outbreak and producing several viable vaccines has allowed it to focus on providing doses abroad — an effort that could help to save lives across several continents.

Ina Fried, author of Login
1 hour ago - Technology

Report: China will dominate AI unless U.S. invests more

Photo illustration: Axios Visuals. Photo: Krisztian Bocsi/Bloomberg via Getty Images

The U.S., which once had a dominant head start in artificial intelligence, now has just a few year's lead on China and risks being overtaken unless government steps in, according to a new report to Congress and the White House.

Why it matters: Former Google CEO Eric Schmidt, who chaired the committee that issued the report, tells Axios that the U.S. risks dire consequences if it fails to both invest in key technologies and fully integrate AI into the military.

Americans agree about more issues than they realize

Data: Populace Inc.; Chart: Michelle McGhee/Axios

Many Americans assume the rest of the country doesn't share their political and policy priorities — but they're often wrong, according to new polling by Populace, first seen by Axios.

Why it matters: The polling reveals that despite growing political polarization, Americans share similar long-term goals and priorities for the country.