Tesla Motors Inc (TSLA) Slammed by Citron Research Tweet

Citron Research tweeted that it's shorting Tesla Motors Inc (NASDAQ:TSLA)

by Josh Selway

Published on Mar 1, 2016 at 3:17 PM
Updated on Jun 24, 2020 at 10:16 AM

Infamous short seller Citron Research today tweeted that it foresees electric car manufacturer Tesla Motors Inc (NASDAQ:TSLA) falling to $100 per share by year's end due to supply and demand problems. As a result, TSLA stock sold off sharply, falling 3.3% to $185.56.

Looking closer, Citron is certainly not alone in its pessimistic outlook. Put buying has been extremely popular on TSLA recently; plus, short interest remains elevated. Specifically, roughly 31% of the stock's float is sold short, and it'd take them almost four days to repurchase their positions, at average daily volumes. 

Analysts are also skeptical of the stock. For instance, 10 of the 14 brokerage firms with coverage on TSLA say it's a "hold" or "sell."

Tesla Motors Inc (NASDAQ:TSLA) has fought back from its two-year low of $141.05 in February, but remains a long-term technical laggard. Specifically, the stock is 35.3% below July's annual high of $286.65. 

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