Assume that you are a recently appointed hedge strategist for Tesla and that you have been requested to make recommendations of hedging strategies considering the current circumstances, for presentation to the board of directors at its next board meeting based on the statements provided below.

In the case of Tesla Inc, the company is expected to receive a revenue of 300,525,500. Therefore, it is exposed to the foreign exchange risk. The company is expected to receive a revenue in 3 months time. In other words, those three months represents a crucial period for Tesla Inc to pay attention. If the value of euro currency appreciates, the company is essentially making more profit since after its converted to dollars, there is more profit made. In contrast, the company is making less profit if the value of euro currency depreciates as the amount is less after its converted.

Make firm recommendations on whether to hedge all, part or none of the foreign exchange risk statement above. Please provide explanations for your recommendations.