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
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Latest Ratings for TSLA
|May 2015||Jefferies||Initiates Coverage on||Buy|
|Apr 2015||JP Morgan||Maintains||Underweight|
|Mar 2015||Argus Research||Initiates Coverage on||Hold|
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