Current Events > Tesla stock skyrocketing as Tesla posts profit and historic earnings report

(+) Yeah! (+)

https://www.cnbc.com/2018/10/24/tesla-earnings-q3-2018.html

Tesla shares soared by more than 12 percent after the company reported a surprise profit for the third quarter as CEO Elon Musk made good on his promise to start turning regular profits in the last half of the year.

The company's earnings report, released after the markets closed Wednesday, also showed better-than expected car sales and a faster timeline on its Model 3 production. The company said its midsize Model 3 sedan, which it hopes to produce on mass scale, was the best-selling car in the U.S. when measured by revenue and the 5th best-selling car in terms of volume.

Here's how the company did compared with what Wall Street expected, based on average estimates of analysts polled by Refinitiv:

Adjusted earnings: $2.90 a share vs. an expected loss of 19 cents per share
Revenue: $6.82 billion vs. an expected $6.33 billion
Tesla earned an adjusted $516 million during the quarter, which was an otherwise a tumultuous one for the electric car maker. It was Tesla's third profitable quarter and compares with an adjusted loss of $520 million during the same quarter last year.

Musk previously said the company would become sustainably profitable in the third quarter, having had just two profitable quarters prior to Wednesday's report since it went public in 2010.

The company's cash position improved by $731 million during the quarter, despite repaying $82.5 million in bonds, the company said. It said it had $881 million in free cash flow and $1.4 billion in operating cash flow. It said it expects flat or positive free cash flow next quarter as well, even with greater debt coming due.

Short-sellers and big oil pundits just got fucking BODIED.

@Krojen your Tesla holdings must be treating you really well right about now. Good work brother.
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@s0nicfan
@SK8T3R215

what do you guys think?
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It dropped almost 2% today

Just stay away from Tesla stock, no dividend and it fluctuates wildly
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Damn_Underscore posted...

It dropped almost 2% today

Just stay away from Tesla stock, no dividend and it fluctuates wildly

The earnings report came out after the market already closed. It's skyrocketing in after-hours trading.
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my $10 is now worth $11.2!!!!
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Not sure why I'm being tagged in this, since my only criticism of Tesla was that they're not some glorious savior of humanity but a very clever battery company. Them making money was always going to happen.

EDIT: That, and Elon Musk is Hank Scorpio personified, but I don't think that particular point is unique to me.
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Good for them I suppose, but even with their current financials I wouldn't go within nuking radius of this stock. Surprised to see you cheerleading for them FLUFFYGERM.

Annihilated posted...

Surprised to see you cheerleading for them FLUFFYGERM.

Are you unfamiliar with Proudclad?

Annihilated posted...

Good for them I suppose, but even with their current financials I wouldn't go within nuking radius of this stock. Surprised to see you cheerleading for them FLUFFYGERM.

Every sane individual should be cheerleading for them, brother.
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Up

Everyone should be out celebrating in the streets
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I hope it doesnt drop again cause I was regretting my Tesla shares for a while there
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ThyCorndog posted...

I hope it doesnt drop again cause I was regretting my Tesla shares for a while there

I personally am confident that Tesla is going to be around for the long-term and is going to become much more valuable with time.
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FLUFFYGERM posted...

Up

Everyone should be out celebrating in the streets

This would be a strange reaction to a 12% move unless you had out of the money calls that suddenly became in the money with the move
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FLUFFYGERM posted...

Up

Everyone should be out celebrating in the streets

This is so unsafe. You need to get some perspective.
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FLUFFYGERM posted...

ThyCorndog posted...

I hope it doesnt drop again cause I was regretting my Tesla shares for a while there

I personally am confident that Tesla is going to be around for the long-term and is going to become much more valuable with time.

that's why I invested in them cause I think electric cars are the future, but I admit to feeling some regret for a while there
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wheres my solar car!
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Nope too late darkjedilink master of economics and business and established gamefaqs.gamespot.com poster said Tesla failed so therefore they failed and this is fake news.
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Tyranthraxus posted...

Nope too late darkjedilink master of economics and business and established gamefaqs.gamespot.com poster said Tesla failed so therefore they failed and this is fake news.

Oh yeah. @s0nicfan my bad, I confused you with @darkjedilink for a second
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Nah still gonna have to stick with gas thanks.
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FLUFFYGERM posted...

Tyranthraxus posted...

Nope too late darkjedilink master of economics and business and established gamefaqs.gamespot.com poster said Tesla failed so therefore they failed and this is fake news.

Oh yeah. @s0nicfan my bad, I confused you with @darkjedilink for a second

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s0nicfan posted...

FLUFFYGERM posted...

Tyranthraxus posted...

Nope too late darkjedilink master of economics and business and established gamefaqs.gamespot.com poster said Tesla failed so therefore they failed and this is fake news.

Oh yeah. @s0nicfan my bad, I confused you with @darkjedilink for a second

lmao

What is the source for that?
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Damn_Underscore posted...

It dropped almost 2% today

Just stay away from Tesla stock, no dividend and it fluctuates wildly

This.

Not worth the headache or loss unless you have thousands to throw away
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FLUFFYGERM posted...

lmao

What is the source for that?

No idea. I just googled "how dare you gif" and grabbed the first giphy link that looked appropriate.
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apocalyptic_4 posted...

Damn_Underscore posted...

It dropped almost 2% today

Just stay away from Tesla stock, no dividend and it fluctuates wildly

This.

Not worth the headache or loss unless you have thousands to throw away

The earnings report came out after the market closed. In after hours trading the stock is up like $30 per share.
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Ex-Kefiroth posted...

Too bad their CEO is an unstable idiot.

Someone should let the shareholders know that a CEman said some stuff about the CEO.
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__aCEr__ posted...

Annihilated posted...

Surprised to see you cheerleading for them FLUFFYGERM.

Are you unfamiliar with Proudclad?

In what context? Not sure what I'm supposed to be "familiar" about with anyone around here.

ThyCorndog posted...

FLUFFYGERM posted...

ThyCorndog posted...

I hope it doesnt drop again cause I was regretting my Tesla shares for a while there

I personally am confident that Tesla is going to be around for the long-term and is going to become much more valuable with time.

that's why I invested in them cause I think electric cars are the future, but I admit to feeling some regret for a while there

Just want to remind you both that there will probably be a recession in the next couple of years, and the debt saddled companies are always the most at risk of bankruptcy during these times. Even if they survive, it might take a while if at all to come back to where they were. I'm definitely in favor of being an early adopter in emerging markets like EVs, pot, and solar, but a most of these companies are doing so badly I have doubts if they'll even last the year.

Brother!

In a universe of red, it's a nice day to be a Boeing and Tesla holder.

As I said, every time I buy this thing it soars. Latest was at 290 then sold in the 370s because of the private shenanigans. Bought back my entire spec investment at 255 a few days ago and now even Citron is long + this ER. I want to remain long more than I want the swing trade this time.
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