Citron Still Shorting Tesla, Sets $100 Target
Shares of Tesla Motors Inc (NASDAQ: TSLA) were down 3 percent after short seller and research firm Citron Research said it is shorting the electric car maker, saying that the supply and demand problems should take down the stock to $100 by the end of this year.
"Citron shorting $TSLA. Supply AND demand problems should take down to $100 by year end. News flow all around does not look good for stock," Citron Research said on its Twitter handle.
In 2013, Citron first explained his short position on Tesla; last year, Citron re-entered the short, saying that deliveries were "underwhelming to a watchful eye."
Shares of Tesla are down 22 percent this year and have traded between $141.05 and $286.65 over the past 52-week period.
Citron's last major short thesis on Valeant Pharmaceuticals made waves after the company's massive selloff.
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