Tesla beat analysts’ expectations on top and bottom lines for Q1 2022.
- Earnings per share: $3.22 vs $2.26 expected
- Revenue: $18.76 billion vs $17.80 billion expected
Loup Capital’s Gene Munster first reaction:
Elon Musk also thinks inflation is worse than reported. We agree – no brainer here.
Tesla is up 6% After-hours
On another news, Bill Ackman sold his Netflix ($NFLX) stake. It is a good move of an experienced billionaire manager. The caveat of running a highly concentrated portfolio is that when a position gets hammered, the impact on the fund is big enough. Ackman lost 430 million and took a 4% hit in the fund. Notheless, when an investment thesis changes – you need to bail on it, as fast as possible.
You can read his letter to investors below:
Tesla’s results should be supportive of risk on Thursday:
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