The "business case" for being short and going against the Tesla business case was a bad decision on their part. Made sense in 2012 because of low production and deliveries. But not now. Nobody really has a good handle on what the true valuation of Tesla is - unless you specifically use Q1 and extrapolate out to their 20,000 deliveries in 2013. But then does buying stop? No, it should continue - plus two new models and hopefully cost of scale benefits, exports and global growth of EVs. That's not something to bet against. The only problem is "what is the proper pps price for the near term?" I suspect $70 is a starting point but it could trade "Netflix-like" to $100+ sometime this year.