Tesla has surged more than 20% since Elon Musk warned of the 'short burn of the century'

Posted On: Jun 14, 2018   |   Posted By: Business Insider

Tesla has surged more than 20% since Elon Musk warned of the 'short burn of the century'

Tesla CEO Elon Musk said in early May that the "short burn of the century comin soon."
Since his tweet, shares have risen more than 20%.
Still, short-sellers have upped their bets against the stock.
Watch Tesla trade in real-time here.
Elon Musk appears to have made good on his promise of the "short burn of the century" - at least for now.
Since Tesla 's chief executive tweeted the warning to short sellers, shares of his electric-car maker have risen by just over 21% from $283 to close at $344.78 on Thursday.
"Oh and uh short burn of the century comin soon," Musk tweeted on May 4 following a conference call that one analyst said was the most bizarre thing he had witnessed in decades. "Flamethrowers should arrive just in time."
In the roughly six weeks since, despite ongoing questions from Wall Street about Tesla's ability to turn a profit this year and live without a cash infusion as Musk has promised , the stock surged as high as $354, fueled by announcements of a companywide restructuring. The gains took...

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