EV demand is so hot that Tesla owners are flipping their cars like houses

Dennis Wang lost money on his first try, but then he learned from his mistakes.

On his second effort as an electric vehicle flipper, Wang made $4,000. On his third, he hit what he considered the sweet spot, a $7,000 profit. All the deals involved Teslas that Wang bought and resold, flipping them like tickets to a hot concert.

"I have a Model S currently that I'm probably going to sell within another three months, pending the market," Wang said. "I also have another Model Y and a Model X on order."

Buying and reselling stuff is as old as commerce itself, complete with cautionary tales and questionable legality. House flipping has become so alluring that multiple reality TV shows hype the process and personalities involved.

Now a new breed of flipper has emerged hoping zero emissions equal big profits. Helping them is an unusual confluence of factors plaguing EV manufacturers (supply chain problems, semiconductor shortages,