Congrats Tesla!

[Rob]

https://www.reuters.com/article/us-t...-idUSKBN1X31NG

Tesla overtakes GM as most valuable U.S. automaker, short sellers burned

Tesla Inc (TSLA.O) shares soared 17% on Thursday after the electric carmaker surprised Wall Street by delivering on Chief Executive Officer Elon Musk’s promise of a profit in the third quarter, even as doubts remained about its long-term prospects.

Trading at $298, Tesla’s market capitalization was $53 billion, surpassing General Motors Co’s (GM.N) $51 billion stock market value and making it the United States’ most valuable car company. It has been the No. 1 U.S. car company by market cap before, but recently GM has had a substantial lead.

Tesla late on Wednesday reported a quarterly profit, citing improvements in operating efficiency and a reduction in manufacturing and material costs.

The strong report unleashed a bloodbath on traders shorting Tesla, the second most shorted U.S. company, after Apple Inc (AAPL.O), in terms of the overall amount of money shorted.

.... more at the link

[Jobaka]

Originally Posted by Dixievet

Trading at $298...

Up from $176.99 at the beginning of June.

[Will]

People who short Tesla are almost as dumb as people who "invest" in Tesla.

Would not touch that fraudulent cult stock with a 10 foot pole from either direction, long or short.

[Rob]

Doubled my money a couple times now.

[Will]

Have to admit, had a hearty chuckle when I saw Kathy Wood of "Tesla to $4,000 per share" fame was going to be on TV today, AND one of her underlings too, pumping Tesla stock . . . .

. . . . while ARK continued to dump it.

[Rob]

Originally Posted by Will

Have to admit, had a hearty chuckle when I saw Kathy Wood of "Tesla to $4,000 per share" fame was going to be on TV today, AND one of her underlings too, pumping Tesla stock . . . .



. . . . while ARK continued to dump it.

They have to dump it due to its value. Their portfolio cannot have a single stock that makes up more than a 10% value and with a jump of 17% today they had to dump a bunch.

[simpleman68]

I won't play with their stock as I'm not researched on them. AMD has been my tech "baby" since 2015.

As an aside, I'm considering getting a model 3 next year for my trips up and down the Rt 95 corridor. AWD (dual motor) mid level model.

A close friend has one and has been getting 260 miles on a charge. The recharge from 10% to 80% is about 20 minutes.

I've been waiting for years for this tech to improve; we'll see.
Scott

[Rob]

Originally Posted by simpleman68

I won't play with their stock as I'm not researched on them. AMD has been my tech "baby" since 2015.

As an aside, I'm considering getting a model 3 next year for my trips up and down the Rt 95 corridor. AWD (dual motor) mid level model.

A close friend has one and has been getting 260 miles on a charge. The recharge from 10% to 80% is about 20 minutes.

I've been waiting for years for this tech to improve; we'll see.
Scott

Might look at the Model Y...I too have been looking at the S and 3 but the Y is looking more interesting. Heck, I really would love a new (tesla) truck but not sure the new truck will be everything I would hope.

[Will]

Originally Posted by Dixievet

They have to dump it due to its value. Their portfolio cannot have a single stock that makes up more than a 10% value and with a jump of 17% today they had to dump a bunch.

They were dumping it before the move.

They're stupid, but not completely stupid. They know it's not going to $4,000 per share.

Classic bubble beneficiaries. Over the past decade, the best way to make money has literally been to be a complete and utter moron and blindly buy the most hyped stocks with the worst balance sheets and business models that only make sense in an environment of central banks flooding the system with QE and slashing rates to near zero, or in most of the developed world negative territory.

Tesla's business model is so bad they may not even survive long enough to see the central bank bubble burst. Legit automakers are about to flood the market with their own EVs. Hard to see Tesla surviving it even while we still have a Central-bank driven bubble.

[simpleman68]

Originally Posted by Dixievet

Might look at the Model Y...I too have been looking at the S and 3 but the Y is looking more interesting. Heck, I really would love a new (tesla) truck but not sure the new truck will be everything I would hope.

At $8k more I think I'd stick with the Model 3. Seems to be similar in cockpit size.
What's the appeal of the Model Y? I see it's a compact Ute but it looks smaller than the 3.
I'll make a run down to Philly since there's a "showroom" there to see differences firsthand, although it looks like another year at least for the model Y.
Scott

[Rob]

Originally Posted by Will

They were dumping it before the move.

They're stupid, but not completely stupid. They know it's not going to $4,000 per share.

Classic bubble beneficiaries. Over the past decade, the best way to make money has literally been to be a complete and utter moron and blindly buy the most hyped stocks with the worst balance sheets and business models that only make sense in an environment of central banks flooding the system with QE and slashing rates to near zero, or in most of the developed world negative territory.

Tesla's business model is so bad they may not even survive long enough to see the central bank bubble burst. Legit automakers are about to flood the market with their own EVs. Hard to see Tesla surviving it even while we still have a Central-bank driven bubble.

Guess you don't have the balls to play the market like me, but hey....sometimes you have to take a risk to make it big.

[Will]

I invest and I watch the macro environment and position accordingly.

I've made plenty of money over the past 12 months while "stocks" have gone sideways, investing in gold and treasuries in an environment of slowing growth and inflation and declining real rates, and in the equities portion of our portfolio investing in bond proxies like utilities and REITs.


https://www.portfoliovisualizer.com/...100&total3=100

[Will]

Fake Meat, Chain Office Space, and Taxi Services that lose a billion dollars a quarter have hosed unsuspecting "investors." One day the electric car company that builds crummy cars in tents, plays accounting tricks, relies on tax incentives, has piss-poor service, and has had no competition from the major automakers will hose "investors" as well.

In the meantime, plenty of money to be made going long and short on it. Also plenty of money to lose.

Congrats to anyone who has actually managed to go long and short at the right times and not get their face ripped off on this roller-coaster of volatility stock.

[snide]

Originally Posted by Dixievet

Guess you don't have the balls to play the market like me, but hey....sometimes you have to take a risk to make it big.

[Millenium Vette]

Originally Posted by Dixievet

Guess you don't have the balls to play the market like me, but hey....sometimes you have to take a risk to make it big.

Key word: Play

There is nothing wrong with "playing" the market as long as you know you are gambling and not investing. Just be prepared when your account blows up.

[Rob]

Originally Posted by Millenium Vette

Key word: Play



There is nothing wrong with "playing" the market as long as you know you are gambling and not investing. Just be prepared when your account blows up.

Done that too. Trump jacking with China burned me a couple times but still in the black.

[Mike Mercury]

Tesla U.S. sales tumble 39% in third quarter
Business News October 29, 2019 / 10:02 AM


Tesla Inc’s (TSLA.O) third-quarter revenue tumbled 39% in the United States, its first drop in more than two years, but sales in China and other regions surged, the electric car maker’s break down of sales by geography showed on Tuesday.

U.S. sales, which account for the biggest share of the company’s total revenue, fell to $3.13 billion from $5.13 billion a year earlier.

Sales in China rose 64% to $669 million and its other segment, which covers the rest of the globe, rose by more than a billion dollars to $1.83 billion, a regulatory filing showed.

“Musk & Co. are laser-focused on Europe and China for growth, while domestically, core demand is fading relative to other regions,” Wedbush analyst Dan Ives said, adding that U.S. growth will remain more challenging going forward.

In its earnings report earlier this month, Tesla reported a nearly 8% drop in total revenue to $6.30 billion, missing analysts’ average estimate of $6.33 billion, according to IBES data from Refinitiv. It did not break down sales by geography in the report.

The company, however, surprised investors with a quarterly profit, making good on Chief Executive Officer Elon Musk’s promise, as it delivered a record 97,000 cars.

The company has said it plans to deliver 360,000 to 400,000 vehicles for all of 2019, and that it was “highly confident in exceeding 360,000 deliveries this year.”

The drop in sales in its domestic market in the latest reported quarter compares with a 55% rise in the second quarter ended June.

Tesla did not respond to a Reuters request for comment on the reason for the fall in the U.S. market.

Tesla is expanding its service in other markets including China and Europe, as Musk is under pressure to make Tesla sustainably profitable, while still spending on major initiatives ranging from a Shanghai factory and assembly-line to upcoming models such as the Model Y SUV and a Semi commercial truck.

The company forecast capital expenditure to be slightly below $1.5 billion in 2019.

In the filing, Tesla also said it had a provision for warranty of $138 million in the third quarter versus $187 million last year.

The filing shows warranty adjustments and other one-time items are a large driver of perceived strength, Roth Capital analyst Craig Irwin said, who downgraded stock to “sell” from “neutral”, adding that he sees margins as unsustainable.

The company’s shares were down nearly 3% at $318.66.

https://www.reuters.com/article/us-t...-idUSKBN1X81NM

[Rob]

Originally Posted by Will

People who short Tesla are almost as dumb as people who "invest" in Tesla.

Would not touch that fraudulent cult stock with a 10 foot pole from either direction, long or short.

https://finance.yahoo.com/quote/tsla

Still feeling the same at $786?

[snide]

Originally Posted by Dixievet

https://finance.yahoo.com/quote/tsla

Still feeling the same at $786?

If I was holding TSLA, I'd be tempted to pull out my initial investment and let the rest ride.

[Will]

Originally Posted by Dixievet

https://finance.yahoo.com/quote/tsla

Still feeling the same at $786?

Yes.

$786 is an absurd "valuation" (it isn't one, it's speculative mania).

Plenty of people made crazy big money during the Dotcom bubble too.

Ditto bitcoins more recently.

I don't know if ~$800 is as high as it will go (probably not) but anyone lukcy enough to gamble on it and win big better not wait TOO long to cash out.

I listened to Cathy Wood's inane gibberish justifying her new $7,000 price target.

I'm ALL ears if you have a rational justification of the share price based on Tesla's sales, earnings, financials, etc. and the competition in the EV space that is coming down the pike from actual car companies that aren't cooking the books and building cars in tents.