STLA - Stellantis N.V.

Lacks pricing power; faces intense competition from Chinese EV makers; advised to avoid the auto industry.

Stellantis entered a joint venture with China's Dongfeng, effectively handing over its historic plant; this indicates a loss of competitiveness and reliance on Chinese technology.

Same cyclical category as Ford — average business in the automotive industry.

Cited alongside Ford as a negative example of a cyclical automaker too complex for reliable DCF valuation. The auto industry's unpredictability makes it unsuitable for his investment framework.

The host sold his entire position and strongly warns against holding Stellantis. The investment thesis completely collapsed: capital allocation shifted from dividends/buybacks to heavy EV capex, CEO was fired, guidance swung from +$10B to -$10B free cash flow, dividend was cut/suspended, $22B EV write-off, company is burning cash, losing market share, and facing overwhelming Chinese competition. The stock has fallen from ~$13 to ~$6-7 since he sold.