It's a triumphant day for Tesla.
The company had promised to hit the critical target of producing 5,000 Model 3s per week by the end of June. Yesterday, a few hours after the self-imposed deadline, Elon Musk announced on Twitter:
7000 cars, 7 days ♥️ Tesla Team ♥️
— Elon Musk (@elonmusk) July 1, 2018
The story was quickly picked up by news outlets across the world, and the figures were confirmed this morning by Tesla's investor relations office .
In a direct reference to the cabal of short sellers who have been targeting the company, Mr Musk also gleefully taunted the bears with a Royal Teens 1950s pop anthem:
Who likes short shorts">https://t.co/hoKsDT8xdS
— Elon Musk (@elonmusk) June 29, 2018
Would it prove a pivotal moment, a powerful refutation of the naysayers who said Tesla could never manufacture its new affordable electric car at scale?
Mr Musk had been promising a day of reckoning for short sellers for weeks:
They have about three weeks before their short position explodes
— Elon Musk (@elonmusk) June 17, 2018
Nay, months:
Looks like sooner than expected. The sheer magnitude of short carnage will be unreal. If you’re short, I suggest tiptoeing quietly to the exit … https://t.co/A0Q90pSLKA
— Elon Musk (@elonmusk) May 5, 2018
And early on it looked that way, with the shares opening up 5.7 per cent.
Except:
At pixel, the shares were down 3.2 per cent.
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