10 Most Profitable NASDAQ Stocks Today

6. Tesla, Inc. (NASDAQ:TSLA)

Number of Hedge Fund Holders: 88

Net Income (TTM) as of December 31, 2022: $12.58 billion

EV giant Tesla, Inc. (NASDAQ:TSLA) generated a net income of $12.58 billion in fiscal 2022. On January 25, the company posted strong earnings for the fiscal fourth quarter of 2022. Tesla, Inc. (NASDAQ:TSLA) reported an EPS of $1.19 and outperformed EPS consensus by $0.08. The company’s revenue for the quarter amounted to $24.32 billion, up 37.24% year over year, and beat market estimates by $17.21 million.

At the close of the third quarter of 2022, 88 hedge funds were bullish on Tesla, Inc. (NASDAQ:TSLA) and disclosed stakes worth $7.39 billion in the company. As of December 31, Ken Griffin’s Citadel Investment Group is the largest investor in the company and has a position worth $926.2 million.

Here is what Worm Capital, LLC had to say about Tesla, Inc. (NASDAQ:TSLA) in its 2022 annual investor letter:

“Even as rates rose and the macro environment devolved, we believed Tesla, Inc. (NASDAQ:TSLA) was best positioned to grow and thrive, even through a period of extreme uncertainty. They are the market leader in rapidly growing end markets and have spent the past decade growing their competitive advantages and building out physical infrastructure with worldwide reach. While we believe we were right regarding the direction of fundamentals, this was overcome by a vast array of factors we didn’t anticipate that negatively impacted the price.

By and large, Tesla had amazing execution in 2022. They managed to achieve 40% YOY delivery growth. In addition, revenue growth should exceed 50% and profit growth should exceed 120% YOY once Q4 numbers are released. This was accomplished while navigating a myriad of difficulties including a prolonged shutdown at their most productive plant in Shanghai. They scaled two factories on different continents while maintaining industry-leading margins and continued to make advanced progress in transformational technologies that have fast future cash flow potential like AI, software, and manufacturing. Through all the noise a lot of remarkable progress was made…” (Click here to read the full text)