Wall Street's Failures on Tesla (TSLA) — Did It Simply Flip Flop? - CleanTechnica

The article from CleanTechnica examines Wall Street’s shifting perceptions and valuation challenges regarding Tesla (TSLA). It highlights a critical analysis from a Fortune article by Shawn Tully, which points out that Tesla’s reported earnings have been significantly bolstered by non-recurring income sources, particularly regulatory credit sales and Bitcoin transactions, rather than core automotive operations. In 2025, Tesla earned approximately $1.51 billion from these non-operating items, nearly 40% of its net earnings of $3.79 billion. Excluding these, Tesla’s “core” earnings were about $2.28 billion, leading to an adjusted price-to-earnings (P/E) ratio of 632, an extraordinarily high valuation compared to other high-profile companies like Palantir, which has a P/E of 353. The article also reflects on Tesla’s historical journey in the eyes of Wall Street and the auto industry. Initially, Tesla was widely dismissed and underestimated, with skepticism about its ability to achieve