Do Tesla (NASDAQ:TSLA) Shorts Get Burned?
Modern Energy Roundup - March 13, 2012
Here's this morning's Modern Energy Roundup. . .
- LED-maker Energy Focus, Inc. (OTCBB:EFOI) announced this morning that it entered into a 5-year cooperation agreement with Communal International, Inc. Under the terms of the deal, Communal will introduce Energy Focus to new potential customers in Asia and assist in reducing manufacturing cost. This is a stock we played a few years ago for massive gains after the company landed a number of deals with the U.S. Military. Not sure how today's news will impact the stock, but it could be good for a quick pop. We'll find out shortly.
- Last month, I reported in our Modern Energy Roundup that there was a lot of short action on Tesla Motors (NASDAQ:TSLA), but I wasn't willing to take the short bet, writing: “Tesla has a way of burning those who bet against it too much.” Well, yesterday the stock hit a 52-week high of $36.29. Will it keep heading north? Probably. Morgan Stanley actually has a $44 price target on this one. But I wouldn't be in a rush to pick some up now. I'd let it cool off a bit and look to pick some up on dips.
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Who Is Shorting Tesla?
Exide Technologies (NASDAQ:XIDE), Tesla Motors (NASDAQ:TSLA) and the new Model S.