Tesla Shorted Shares Dropped Before Vehicle Deliveries Report; Shanghai Gigafactory Severely Underutilized?

Tesla Shorted Shares Dropped Before Vehicle Deliveries Report; Shanghai Gigafactory Severely Underutilized?

4 years ago
Anonymous $9CO2RSACsf

https://wccftech.com/tesla-shorted-shares-deliveries/

Electric vehicle and energy products manufacturer Tesla Inc (NASDAQ:TSLA) posted its official vehicle delivery figures for the first quarter of 2020 yesterday. The company beat Wall Street estimates and posted its strongest first quarter in history despite a global drop in purchasing power and manufacturing due to the outbreak of the coronavirus (COVID-19).

Following a strong production ramp-up in its Shanghai Gigafactory, Tesla's stock price soared to new highs on the open market, wiping out short positions in its wake. However, the stock's peak in mid-February would show that even the most astute traders would go on to miss the selling rally initiated by COVID-19.