Tesla (TSLA) is an American automotive and energy company based in Palo Alto, California. The company specializes in electric car manufacturing and, through its SolarCity subsidiary, solar panel manufacturing.
A couple hours ago Tesla accidentally leaked their ‘acceleration boost’ upgrade planned for Model 3 vehicles equipped with the dual motor powertrain.
With the power increase, we have seen the Tesla Model 3 Performance (highest performance verison) achieve sub 3 second 0 to 60 mph acceleration. We’ve now learned that the acceleration is coming through a paid upgrade.
Why Tesla (TSLA) will continue to rise
The recent rally in Tesla’s share price is rather mind boggling, The EV giant hit a new 52-week high of $385.50 before closing at $378.99. Tesla had a nice run over the past three months, surging 54%.
The three key catalysts that will drive Tesla’s rise is
- Model 3 success: This flagship vehicle established itself as a leader in the EV segment, being the first mass-market ev in North American and Europe. This is one of Tesla’s best selling vehicles.
- Shanghai Gigafactory buildout: The buildout of the factory is ahead of schedule and is likely taking car deliveries as you’re reading this and with this factory it will give Tesla access to the largest EV market on the planet. Along with plans for Model Y and another Gigafactory.
Tesla (TSLA) short sellers left in red
Short sellers love shorting Tesla. Short interest tells us how bearish the market is on a stock, hight short interest can trigger a short squeeze where bears have to square off their positions if the stock price rises. In this case, Tesla’s short interest continues to fall.
Short interest fell from 37,189,793 on Oct 6 to 28,651,737 on Nov 29, the ratio fell from 4.50 to 3.67 in the same period. The current short interest is at it’s lowest since the beginning of 2019.
Jim Chanos and David Einhorn are two well known Tesla short sellers, luckily the spike in Tesla’s stock dented his capital firm in October.
Q4 is a rough ride for Tesla short sellers and good response from the Cyber truck added to the short interest
