The $1 Billion Short Burn Of The Century

Elon Musk defied critics this week, delivering a surprise profit in the third quarter for Tesla. After several quarters of major losses, and mountains of debt, Tesla swung back to profitability in the quarter. Deliveries of the much-maligned but highly-popular Model 3 were up slightly, and costs were down. Tesla said its crossover Model Y car is on track for a release in the summer of 2020. “Just my opinion, but I think it will outsell Model S, Model X and Model 3 combined,” Musk told investors on an earnings call. Tesla executives…