The sales are down 5%, but TESLA managed to make a profit of 50 cents / share.
People are super enthusiats about this, stock is trading 6% in the after hours. Some are even sure the stock will join the S&P 500 (with more speculation coming down the road).
Elon Musk has done it again, beating Wall Street’s expectations for Tesla’s earnings significantly for the fourth quarter in a row.
Note that TESLA did not beat estimates; it literally smashed them!
I'll have more in the coming days about earnings...
In the meantime, here is the point of view of BofA analyst (certainly a dumb guy who's clueless about stocks compared to robinhood traders).
In our view, the $1,500+ stock price is not supported by fundamentals, with valuation driven largely by momentum and low rates." Among 10 reasons to remain cautious on Tesla, the analysts said that while volume growth is real, it is constrained by capacity expansion and capital availability; the EV market is likely smaller than appreciated; and Tesla's profitability and cash flow "are not great or consistent, and are major risks.
The EV market is smaller than appreciated! Well, that's quite a surprise!
And on the view lots of people have on TESLA stock as a tech company, compared to FANG stocks.
while Tesla is often compared to technology companies and industry disruptors like the FAANG stocks, Tesla's business model is capital intensive, which "makes its business much less scalable than that of a technology company.
In the meantime, the litlle brother Nikola stock keeps going lower.
How much the TESLA stock price by end of the week?
Place your bets. 2000$, 3000$?
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