Tesla Can't Produce Fast Enough Says Elon Musk
CNBC interviewed Longboard Asset Management's Cole Wilcox Thursday following Tesla's (NASDAQ: TSLA) earnings report. Wilcox is notorious for saying that Tesla could rise to $200 per share before it began its massive run up since early this year.
"Tesla doesn't have a demand problem," he said when referencing the vehicles in Tesla's leasing program. Rather, he cites a conversation he had with CEO Elon Musk in which Musk said that Tesla's real problem currently is that the company cannot produce batteries fast enough to meet demand. "They have a production problem."
Analysts are divided on the stock currently as many are afraid to call a top and recommend selling the stock. However, noted short-seller Citron Research recommended a short in Tesla on July 30. Depending on exactly when they went short, it seems as though Citron went short around $134. Should this be the case, they are facing massive losses as Tesla's stock rocketed almost to $160 on earnings today.
After the earnings, Citron said that they are adding to their short. They tweeted:
$tsla getting juicy. Citron adding to short. Incremental buyers should dry up soon
— Citron Research (@CitronResearch) August 8, 2013
Have your say on Tesla here and let us know what you think of the stock.
Latest Ratings for TSLA
|Jan 2015||JP Morgan||Maintains||Neutral|
|Jan 2015||Stifel Nicolaus||Reiterates||Outperform|
|Oct 2014||Ascendiant Capital||Initiates Coverage on||Buy|
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.