Reports were somewhat mehh….Wall Street was underwhelmed with Tesla’s Q3 performance and the share price was down a whooping 16% after the annoncement.
Let’s look at the hard facts for a sec: revenues up (higher than analyst expectations) & 5.5k model s cars sold (exceeding expectations)..Not too bad.
For context, with a revenue of $600M, Tesla’s market cap is slightly under $17bn. Putting in contrast GM’s revenues for Q3 - $39 bn - their current market cap of $50bn is a clear indication for where the car industry is headed toward. Super excited…thinking of selling my fiat, put some more money down for the next 5, 10 or 50 years and then finally buy a model s as well! :)
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