Greenlight Capital’s Einhorn Questions Tesla Numbers Again By

Stock Markets3 hours ago (Apr 30, 2020 11: 07AM ET)

© Reuters.

By Kim Khan

Investing.com – Hedge fund manager David Einhorn tweeted out Thursday another letter despatched to Tesla (NASDAQ:) CEO Elon Musk questioning the automaker’s monetary results.

Greenlight Capital founder Einhorn, who tweeted out a letter in November questioning whether or now not Tesla’s accounts receivable “even exist,” tweeted out another letter as of late asking for explanations about its auto imperfect margin reported the day prior to this.

“This quarter your production become lower and spoil up across two factories, affecting fee absorption, in particular in Fremont,” Einhorn wrote. “Your reasonable promoting price become lower. Your mix had fewer excessive margin items S/X. You ramped up Mannequin Y. Both factories had been interrupted driving up costs. And, though you didn’t focus on it, currency must personal hit your margin 2-3% when in contrast with final quarter.”

“All of these factors look like headwinds to your auto imperfect margin (with the exception of Regulatory credit rating gross sales) – which barely budged,” he stated.

Tesla reported first-quarter auto imperfect margin of 25.5%, up from 22.5% in the fourth quarter.

Shares of Tesla rose 4.3% in morning shopping and selling.

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