Just as I predicted, Tesla's one quarter of profitability was just an enabler for them to raise more money for development of future models, which will most assuredly take them onto the red again, albeit probably temporarily. In this respect their profitability was not "real" in that they knew it was temporary prelude to more fund raising. It doesn't show sustainability, only that they can put the brakes on all spending for a quarter to look good to investors.
I think it's a bit dishonest of Elon to claim there were no plans to go back to the public markets in last quarter's earnings call, only to raise more money a few weeks later.
I think it's a bit dishonest of Elon to claim there were no plans to go back to the public markets in last quarter's earnings call, only to raise more money a few weeks later.