Getty Images A Tesla Model 3 in a Chicago showroom.I have made a profit shorting Tesla stock several times over the past year — and am once again short the stock. Like many others, I think Elon Musk is brilliant and a visionary. But I see several problems with this “story stock” that will continue, regardless of the company’sTSLA, +0.41% first-quarter earnings. With the competition that is coming in the market for electric vehicles, Tesla at best becomes a boutique car company, not a category killer. With its internal problems and its cash-burn rate, the worst-case scenario is that Tesla ends up bankrupt. The bears calling for bankruptcy in the near term will be proven wrong. Musk can continue to find money in the capital markets to keep the company running for quite a while yet. Mounting lawsuits are problematic as well, but aren’t yet something that could critically cripple the company. Musk certainly won’t find enough revenue in the Model 3 anytime soon that can sustain the company, no matter how bold his future production rate claims become.via