1/ My latest on Tesla:

"Tesla touted 139,300 deliveries, a new quarterly record for the electric vehicle maker, as a sign of strong demand and validation of its bulging valuation. However, a closer look at the numbers reveals a somewhat less flattering story."

$TSLA $TSLAQ https://twitter.com/gurufocus/status/1312474728494321665

2/ Vehicles sitting unsold in inventory will weigh on profitability as the cost of manufacturing those vehicles is not recouped via sales during the quarter. That could prove problematic for Tesla's third-quarter earnings.

$TSLA $TSLAQ https://finance.yahoo.com/news/tesla-3rd-quarter-loss-still-202852065.html

3/ Q3 also saw significant price cuts. Tesla reduced the price of its Model Y by $3k a mere 4 months after commencing deliveries. Price cuts so soon after a product release suggests that demand may be lower than hoped. $TSLA $TSLAQ

4/ Coming in at $594M, regulatory credit revenue actually exceeded the $448M brought in by auto sales in Q2. Without those credit sales, $TSLA would have reported a loss in excess of $300M. In other words, $TSLAQ wasn't able to make money selling cars. https://twitter.com/TESLAcharts/status/1286083711533015041

5/ According to Zack Kirkhorn, Q3 regulatory credit sales will be halved from Q2. Thus in a best-case scenario, $TSLA may report a modest uptick in incremental revenue from record deliveries, but such gains will likely be muted by inventory growth, price cuts & increased leasing.