Tesla Quarterly Loss – CWEB.Com
$675 million quarterly loss. Excessive design flaws, Quality issues, affecting delivery dates.Time to pull the plug on Tesla.
Tesla reported a loss of $1.9 billion for the full year in 2017, up from $674 million in 2016. The automaker’s Tesla’s total revenue for 2017 was $11.8 billion.
Clement Thibault, senior analyst for the website Investing.com, said in an emailed statement Wednesday before results were announced that market-watchers have long been mystified by Tesla’s strong stock performance.
“We’ve argued repeatedly that Tesla’s fundamental valuation simply can’t be justified,” he said. “The company has less than $11 billion in (trailing twelve months) revenue, net income of -$1.4 billion, $10 billion in long-term debt of which $5 billion was raised over the past 12 months, and yet the company is somehow worth $58 billion.”
Those commercial rocketry and low-cost solar panel ideas best pan out quick, or Tesla may be best known as the Tucker of its day: lots of innovative, ahead of its time ideas, but no commercial viability.
Disclosure: I/we have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours.