Bobby Harvey
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Tesla Bears Still Show Their Fangs After Q2 Beat

Tesla Inc  wowed the Street with its second-quarter results, as evident by the strong rally by the shares in reaction to the results.

However, the results did nothing to change the view of Tesla bears such as Goldman Sachs, which maintained its Sell rating on the company.

Reviewing the Q2 results, Goldman noted that Tesla reported adjusted EBITDA of $264 million, exceeding its estimate as well as the consensus. Auto gross margin of 25 percent exceeded the firm's estimate of 24.3 percent but trailed the consensus estimate of 25.3 percent.

Further, operating expenditure was better than Goldman's forecast.


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