With the stock sporting a triple-digit price-to-earnings ratio (and that's on a forward-looking basis), the case for buying Tesla before its July earnings report just isn't there. Any new investor is betting big on the company's ability to deliver on its bold promises -- I'm not confident it can.

Tesla (TSLA) investors have experienced a rollercoaster ride so far this year. From CEO Elon Musk’s controversial political moves to mounting questions about long-term prospects, shareholders have faced no shortage of volatility.