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URL:  https://boards.fool.com/and-i-always-found-the-credit-math-by-the-shorts-34687839.aspx

Subject:  Re: Misunderstanding Tesla Date:  12/7/2020  10:09 PM
Author:  FlyingCircus Number:  6076 of 6127

And I always found the credit math by the shorts ... interesting.

"The only reason they're profitable is the credits" is spurious. The credits are <5% of their income. So, technically, sure, that 5% puts them over the top. But technically, you could pick any one of their revenue (or -expense) line items out, for the same dollar value, and say exactly the same thing.

It dismisses much larger and more important numbers:"Automotive gross margins, excluding regulatory credits, rose from 18.7% to 23.7% sequentially."

42% YOY Automotive Revenue growth to $7.6B, 47% QoQ !!

$6B - 50% increase in Cash.

There have been a number of shorters recently touting that credits meme.

$400m out of $8B? Please.
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