Tesla stock skyrockets after legendary short seller goes long
Citron Research, a noted Tesla short seller for the last few years, flipped and went long.
The publicity of Tesla short sellers is noted. They received a lot of attention simply because they include many notable automobile names.
Citron, itself, predicted a $100 price on Tesla.
The reason for the flip: Tesla Model 3 a resounding success.
In its Tuesday note, however, Citron said that while “the media has been focused on Elon Musk’s eccentric, outlandish and at times offensive behavior, it has failed to notice the legitimate disruption of the auto industry that is currently being DOMINATED by Tesla,” using all caps.
This led to a rally in the stock price of over 10%. On Monday, the company (Tesla) announced that it moved the earnings call to Wednesday from early November.
That move also caused speculation that they know their quarter is going to be a blow out to the upside.
Click on image to read full article.