AAL

Tesla Eyes Another Record Close on Model 3, Delivery Updates

Shorts have also been hitting the exits, a potential boon to TSLA

Managing Editor
Jan 3, 2020 at 10:26 AM
facebook X logo linkedin


Buzz around Tesla Inc (NASDAQ:TSLA) continues to swirl this morning, with the electric-car maker drawing headlines on news it will reduce the starting price of its Model 3 sedans made in its Shanghai factory by 16%. The cut in price comes after the company received electric-vehicle subsidies from China.

Also triggering this morning's surge are reports the company beat production output expectations for the fourth quarter, delivering 112,000 vehicles, compared to estimates for 104,960 deliveries. At last glance, TSLA is up 3.7%, at $446.32, earlier hitting a fresh record high of $454.

Short sellers have been hitting the exits, with short interest down 4% in the most recent reporting period. This accounts for a whopping 20% of Tesla stock's total available float, or nearly three times the equity's average pace of trading.

Today's gains have the equity eyeing not only a record close, but a third straight win, as well. Tesla stock sliced through the 320-day moving average's ceiling in late October, and now sports a healthy 49% year-over-year lead.

 

Same-Day Trading Power: +227% YTD and Counting  — Get in for $10!

We're celebrating 44 years of helping traders win, and you can now tap into one of our most explosive services — Dynamite Day Trading Signals — for just $10.

This service was built for one thing: capturing intraday gains with precision. 

Access two highly-vetted options trades each week -  Complete with defined entries, exits, and a clear plan for same-day profits.

👉 Click Here to Learn More and Position Yourself to Take Action When the Next Alert Hits.