Fortune
Tesla stock dives on news that it earned next to nothing on cars in Q1, and plans to spend $25 billion in CapEx anyway
Tesla's core automotive business barely generated a profit in Q1, with nearly all earnings derived from carbon credit sales and Bitcoin liquidations rather than selling cars. The company then announced plans to spend $25 billion in capital expenditures going forward, raising serious questions about the sustainability of its business model. Investors reacted swiftly, sending the stock sharply lower.
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