(04-30-2020, 12:01 PM)Otter Wrote:I'm not sure the BK is ever coming, but there will be a day when TSLA stops making the FAANG look like value stocks. I don't think I've ever seen a stock be this bubblicious for so many years.(04-30-2020, 11:49 AM)EricL Wrote:(04-30-2020, 10:54 AM)fenders53 Wrote: Anyone look at TSLA earnings report? How in the hell did they turn a profit with factories shut down nearly a third of the quarter in the US and more than that in China to my knowledge? I guess 1Q is an easier seasonal target but most of the other auto manufacturers had a horrible quarter. Had to be EV credits I assume.
And I sure called Facebook wrong. The only FAANG stock I just knew would have a weak quarter. Numerous analysts said ad revenues were way down. Guess I need to find some new analysts.
Link to earnings release.
TSLA turned a "profit" by selling $354M in regulatory credits during the quarter, which equated to 6.9% of auto revenues.
Actual auto revenues were down 33% QoQ.
Solar and storage sales were down 35% and 51% and global inventory increased by 82%.
Free cash flow was -$895M for the quarter.
Yet nothing matters, the stock is up another $16 to $817 and now has a nearly $150B market cap.
The early 2000's called, it wants its tech bubble back...
I learned not to short TSLA. I eventually made a profit on my puts during the March plunge, but they were essentially worthless for a while when TSLA last decided to shoot for $1000.
It is a cult stock. The true believers will never abandon it until there's a bankruptcy filing.
It's not like it's a new company.