D’ron Forbes says Elon Musk “Cooked The Books” in Latest Tweet
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Division One Finance
New York, NY, August 1, 2021 — While many investors flock to support all of Elon Musk’s moves no matter what he does, there are some who stand aside and analyze things from a different view. New York based entrepreneur and investor D’ron Forbes is one of them.
On Sunday, the young investor tweeted out that the Tesla CEO basically “cooked the books” to turn a profit by raising the prices on products. While this may seem outlandish there have been dozens of reports in 2021 alone of Elon Musk hiking prices, sometimes in breach of contract and by ridiculous percentages.
THE TWEET READ:
Tesla is currently facing a class action law suit, where some of their solar clients are claiming that the automaker and energy brand hiked prices despite signing a contract to provide services at lower prices. When contacted about the matter Tesla simply responded that it was an executive decision.
Yahoo Finance reported just yesterday that Tesla also paid a $1.5 million settlement for another lawsuit where they wrongfully decreased the charging capacity in over 1,700 vehicles. In order to increase their margins and meet expectations of analysts Tesla has continuously marked up prices on vehicles and services without warning.
I think it’s safe to say that Mr. Forbes has made a pretty good case here. How profitable would Tesla be without these price hikes? Also, given the company turned its first profit ever in 2019, would this have even happened otherwise? We’ll see how the next quarter of earnings pans out, and be on the lookout for more tweets from the Division One Finance CEO.
Source Division One Finance
August 1, 2021 5:28pm ET by Division One Finance