Thursday, May 29, 2014

Tesla Slips As Musk Says Short Sellers Slightly Less Crazy Than Before

Shares of Tesla (TSLA) were down about 0.3% at recent check; the stock was also down after hours yesterday, when Elon Musk told Fox Business Network that short sellers are "not as crazy" to bet against the stock as they were in the past, given its recent rally.

From the interview: "In the past I said it's really crazy to short Tesla. Is it so crazy to short Tesla right now? I mean it's not as crazy but I still think it's probably not a good idea."

So, not exactly a damning review of his own company, but enough to send the shares down a bit at midday. Although with the shares up more than 440% in the past twelve months, it might have been crazier of Musk not to acknowledge that the rally could leave some investors skeptical (however unjustifiably, in his view).

Or maybe investors are signaling their disapproval of potentially naming a child after the electric car company.

Earlier this week, Bloomberg weighed in on Tesla's plan to offer buybacks.

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