Shorting Tesla Stock A 'Dumb Idea,' Says Bull: This Is What Happened When Last Time Elon Musk Talked About 'Obliterating' Shorts

Quick Summary:

What Happened: Last Tuesday, when Tesla fans and influencers were discussing the stock rally seen since June 25, Tesla CEO Elon Musk butted in and said, “Once Tesla fully solves autonomy and has Optimus in volume production, anyone still holding a short position will be obliterated.Even Gates.”

Tesla autonomy refers to the company’s full self-driving (FSD) technology, which is currently running “supervised” and brings in recurring high-margin revenue.

Tesla, Inc.(NASDAQ:TSLA) shares have been on a nine-session rally and bullish analysts have affirmed their confidence in the sustenance of the rally even as bears fret over the unsustainable valuation relative to the electric-vehicle maker’s fundamentals.

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Article Details

Author / Journalist: Shanthi Rexaline

Category: Technology

Markets: United States

Topics: US88160R1014 EVs Electric vehicles Stories That Matter Mobility Gary Black TSLA Markets General Elon Musk Tech Expert Ideas Equities Benzinga

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-07-09 @ 08:48:26 (2 weeks ago)

News Timezone: GMT +8:00

News Source URL: benzinga.com

Language: English

Article Length: 412 words

Reading Time: 3 minutes read

Sentences: 21 lines

Sentence Length: 20 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Benzinga

News ID: 21552271

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