Market Overview

Elon Musk Loves To Call Out Short Sellers

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


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