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Tesla is a dead company walking. The profits from it's core auto business died last quarter (down 70%) and there is no good reason for them to return any time
by jqpabc123 2y ago
Tesla is a dead company walking.
The profits from it's core auto business died last quarter (down 70%) and there is no good reason for them to return any time soon.
The small profit it reported came from selling government sponsored emission credits to other manufacturers.
Wall Street investors cheered the good news. The stock rose about 25%. Clearly, they are smoking hopium. Go figure.
- bb88 2y agoTesla is having a Wile E. Coyote moment. That's when the company has walked off the cliff but the market hasn't responded to it yet. At this rate, Musk will lose every first mover advantage he had within a couple of years. Maybe he should go on an apology tour saying that ketamine wasn't all it cracked up to be...?
- hnburnsy 2y ago>The small profit it reported came from selling government sponsored emission credits to other manufacturers. If you don't make the vehicles you can't get the credit.
- jqpabc123 2y agoSales and production dropped 16%. Profit from sales dropped 70%. Without emission credits/sales, they would have reported a net loss. Not at all in line for a "growth stock" with a P/E of 150.