The company just reported a LOSS of $51 MILLION vs same quarter 2009 LOSS of $24 million. At that rate of doubling their loss each quarter, they are going to burn cash right and left and soon there after file a chapter 11 or 13.
agree...there are delusional shorts that think that cash burning rate will make this go BK...well, according to that "logic" 90% of all companies on Wall Street would be BK...that's not how the game is played.
Short interest on TSLA is relatively high and I doubt many have covered yet. This could experience a short squeeze into options expiration. Not yet as they probably think of averaging in but another 50 to 80cts up from here and we'll start seeing some significant covering which should make this go to 27 soon.
Hey, I have nothing against shorts just think that this is not the time to short TSLA. Plenty of other better shorts out there. Look how long Blockbuster fought bankruptcy and they had no promising product, the cash burn rate of TSLA is due to R&D which isn't necessarily bad. It's not like the business model is flawed here. No way I would short TSLA at this time.