Q1 financials were strong somehow. Quite the roller coaster, but they laid out the path to $250 billion market cap in 2021 during the call with a production capacity of 1 million cars at 25% gross margin.
Q2 could look like anything. 20k cars produced but not yet delivered at the end of Q1. China is at 200k run rate currently. They've pushed out automatically recognizing and stopping Stop Signs and Stop lights this month, and with $600 million in deferred FSD revenue on the books, that's a nice cushion to deliver with more feature updates. With all that, it could still be terrible. I'm still holding long term because their investments are clearly starting to bear fruit. Without Covid, this stock would be over $1000 today. Weathering Q2 is a big question mark, but they've got $8.1 billion in cash so no short term liquidity issues.
2021+, pretty optimistic.