Tesla CEO Elon Musk taunted short sellers of the company's stock as it hit an all-time high early Monday.
Tesla shares closed up more than 7 percent on Monday at $298.52. The surge came after the company reported that it delivered more vehicles than expected in the first quarter of 2017. The rally also boosted Tesla's market capitalization past that of Ford's stock.
Over the past year, Tesla's stock has gained 23.1 percent, but since January, the stock is up 36.9 percent.
The electric carmaker is now on track to meet or beat expectations for the first half of 2017, analysts said, as it moves closer to beginning production on its much-anticipated Model 3 sedan in July.
@elonmusk: Exactly. Tesla is absurdly overvalued if based on the past, but that's irrelevant. A stock price represents risk-adjusted future cash flows.
According to FactSet, about 31 million shares of Tesla, or about 19 percent of the float, are sold short.
This isn't the first time Musk has trolled short sellers — he also referred to the weather in "Shortville" in 2013:
Watch: Tesla market cap now worth more than Ford