Market Overview

Elon Musk Loves To Call Out Short Sellers

Share:
Elon Musk Loves To Call Out Short Sellers

Tesla Inc (NASDAQ: TSLA) spiked as much as 5.6 percent Monday after first-quarter reports boasted a sizeable deliveries record — a victory CEO Elon Musk sought to capitalize on.

Musk took to Twitter Inc (NASDAQ: TWTR) to taunt Tesla cynics as shares rocketed over $292, prompting significant losses for those shorting the stock. Some analysts foresee continued upside, with Baird maintaining a $368 price target.

Traders may have been better off shorting Ford Motor Company (NYSE: F) this time around, as its shares plunged as much as 3 percent on news that Tesla surpassed it in market cap. Ford also announced March sales, with overall U.S. sales down 7 percent.

Tesla's stock traded recently at $291.71, up 4.8 percent on the day. The stock is up more than 30 percent in 2017.


This also isn't the first time Musk has called out the shorts.

Image Credit: By Heisenberg Media (Flickr: Elon Musk - The Summit 2013) [CC BY 2.0], via Wikimedia Commons

 

Related Articles (TSLA)

View Comments and Join the Discussion!

Posted-In: Elon MuskNews Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Daily Analyst Rating
A summary of each day’s top rating changes from sell-side analysts on the street.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com