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this post was submitted on 07 Sep 2024
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Tesla gave cars away for free to gain market share?
Their stock didn’t crater when they didn’t return a profit
They got money from the IPO. The money let them build a plant to sell cars at a profit. In 2016, they had burned through the IPO money and weren't selling the model 3 yet. Musk later admitted they were months from bankruptcy. The stock price was around $12 a share.
Selling cars at a profit is what caused their stock price to rise.