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> they are barely in profit on selling cars Did you even see the earnings report yesterday? I don't care about non-cash expenses (Stock-based compensation of 6
by DarmokJalad1701 6y ago
> they are barely in profit on selling cars
Did you even see the earnings report yesterday? I don't care about non-cash expenses (Stock-based compensation of 614M).
They made a profit of $1.05 billion out of which ~102M was from the bitcoin sale and 518M was from reg credits. In what world is ~$430 million in a single quarter "barely anything"?
- grey-area 6y agoGreater than 60% of their profit is still from one-offs which are likely to go away soon (or even become liabilities like the bitcoin), their PE ratio is > 1000, and they have only just turned the corner and started profiting from car sales; in previous years they made a loss, which is fine in a growing company, but they are not some super-profitable company which justifies their valuation - their valuation is a projection of future growth, and I don't think it's unreasonable to say their valuation is very optimistic given their sales and position in the market.