JMP Securities' Joe Osha Surprised With Tesla's Q3 Profits

The transcript discusses Tesla's surprising gross margin in the third quarter, which exceeded expectations and contributed to profitability. It highlights Tesla's production and sales strategies, including the opening of a Shanghai factory and the Model Y launch. Despite profitability, concerns about declining top-line revenue growth are raised, leading to a stock rating change from buy to hold.

What factors contributed to the skepticism surrounding Tesla's performance?

What is the significance of the Model Y for Tesla's growth strategy?