Tesla bulls were right, bears are crying
Ava Hoppe | 24 October, 2019
As i wrote few weeks ago, the bulls are vastly outnumbered when it comes to Tesla. Those 7 funds that were bullish on the stock must be doing a dance right about now, where is the short sellers must be crying. The Tesla bears lost 1.4 billion today, as Tesla stock went up 20% on the surprising news of a profitable quarter.
Here are the key figures from the earnings report:
- 97,000 Vehicles delivered in the third quarter
- Gross Margin of 18.9%
- EPS of $1.86 (the expectations were that there would be a negative EPS)
- $6.3 Billion in Revenue.
Elon Musk also moved the Model Y expected release date to summer of 2020 instead of fall 2020.
Tesla Q3 results:— Elon Musk (@elonmusk) October 23, 2019
- Shanghai Giga ahead of schedule
- Model Y ahead of schedule
- Solar installs +48% from Q2
- GAAP profitable
- Positive free cash flow
This writer is curios if the bears will persist and remain committed to their shorting strategy or will this surprise shake them up enough to abandon it.