Tesla Can't Produce Fast Enough Says Elon Musk

CNBC interviewed Longboard Asset Management's Cole Wilcox Thursday following Tesla's 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.

Related: EXCLUSIVE: The Shorts Are Taking A 'Wait And See' Approach With Tesla.

After the earnings, Citron said that they are adding to their short. They tweeted:

Have your say on Tesla here and let us know what you think of the stock.

Market News and Data brought to you by Benzinga APIs
Comments
Loading...
date
ticker
name
Price Target
Upside/Downside
Recommendation
Firm
Posted In: Analyst ColorCNBCShort SellersPrice TargetAnalyst RatingsMoversMediaCole WilcoxElon MuskLongboard Asset Management
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!