Tesla CEO and chairman Elon Musk went after shorts on Twitter over the weekend. He generally warned investors selling his electric vehicle venture short that they have about 3 weeks to cover if they don't want to lose their money.
Tesla stock has rallied more than 20 percent since the company's early June annual shareholder meeting at which Chairman and CEO Elon Muskpromised profitability in the third quarter, and trended more than 4 percent higher through last week after Tesla announced layoffs on Tuesday June 12th. Last week, Elon Musk bought around 72,000 Tesla shares, spending nearly $25 million to do so.
Shares opened on Monday at $355.20 and notched up in mid-day trading. During the same week last year, Tesla shares were trading 5.6 percent higher at $375.