Elon Musk might still be some years away from sending people to Mars but a stock price of his Tesla surging like a SpaceX rocket. The stock (TSLA.US) is more than 8% today, more than 40% in January so far and nearly 230% up from 2019 lows!!! Tesla is already worth more than all global carmakers except Toyota, despite selling less than 5% cars compared to the Japanese carmaker or the VW group. Today we got the news that Tesla is finally able to sell cars in Michigan state but it seems like it’s slaughtering of short sellers that’s behind this buying frenzy. Suddenly, the quarterly report from the company is shaping up to be the most important event in Janaury. It will be published next week (January 29).
