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Shares of Tesla Inc. rose more than 6% on Tuesday after famous short-seller Citron Research explained it at length, claiming that Model 3 was "a proven success" and that many "signals from 39 'alarm' concerning the automaker of Silicon Valley had proved their effectiveness to be insignificant.
Tesla shares
TSLA, + 10.37%
traded as high as 7.5% at $ 280.60 and were the second best performance on the Nasdaq-100.
The note from Citron comes after the automaker of Silicon Valley announced Monday night that it will present its third quarter results Wednesday, much earlier than expected.
The seller vendor had long claimed that by the time of the arrival of the model 3, "multiple" electric vehicles with an autonomy of 200 km would already be on the market, said Tuesday.
"The rumors about Tesla's killers have been as consistent and baseless as Bob Lutz's appeal to Tesla's bankruptcy," Lemon said in a speech to General Motors Co.
GM + 2.31%
executive and frequently critical Tesla.
In March, it was expected that the stock would fall to $ 100 by the end of the year. Andrew Left, of Citron, is also among the many investors and short sellers who have filed a lawsuit against Tesla for alleged breaches of securities laws arising from CEO privatization tweets, Elon Musk, in August .
Related: Tesla sales in the United States are gaining more and more at BMW and other luxury car manufacturers.
In his note on Tuesday, however, Citron said that "if the media focused on the eccentric, bizarre and sometimes offensive behavior of Elon Musk, they did not notice the legitimate disruption of the film. automotive industry that is currently dominated by Tesla ". using all capital letters.
Lemon has acknowledged his long-time bearish stance on Tesla and his astonishing turn: "Even though you can not believe you're reading this, we can not believe we're writing this!"
But, "clearly and simply – Tesla is destroying the competition," he said. "It looks like the competition is taking the Ambien," referring to the admission of Musk who sometimes uses the sleeping pill.
On Twitter, the short seller also said that early gains could be a "bad sign" for short sales.
Tesla surprised the markets on Monday by setting the date of its third quarter results about two weeks earlier than its usual date. Tesla did not return MarketWatch's request for comment Monday night about the decision to quickly advance profits without notice.
Musk has promised to make profits in the third and fourth quarters.
Analysts surveyed by FactSet expect Tesla to announce an adjusted loss of 3 cents per share for a turnover of $ 6.01 billion. That would equate to an adjusted loss of $ 2.92 per share for a $ 2.99 billion business figure the year before.
Tesla scheduled a post-results call with analysts at 15:30. Pacific, about an hour later than usual. Ford Motor Co. is also due after the bell on Wednesday.
The third quarter results come close to three weeks after Musk had obtained fair results from the Securities and Exchange Commission and short sellers by calling the SEC the "shortseller enrichment commission".
Read more: Here's how much Tesla lost its market capitalization now that Musk's settlement with the SEC is approved
Last week, a federal judge approved the settlement reached between Musk and the SEC last month to put an end to accusations that Musk misled investors and violated securities laws by stating that he had "Secured funding" to protect Tesla privately. Musk and Tesla accepted the settlement without admitting or denying the allegations.
Tesla shares have lost 11% this year and 18% in the last 12 months. This compares to gains of 1.4% and 0.9% for the S & P 500 Index
SPX, -1.20%
and the Dow Jones Industrial Average
DJIA, -1.20%
in the same period.
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