Source: Zero Hedge
TSLA Goes Full AOL – Explodes 25% In 3 Days TSLA shares are exploding higher once again today as it appears another hedge fund pukes its shorts into this exponential run. As short interest is eviscerated… The catalysts for this latest move – according to the narrative machine – are numerous… Earlier today, Panasonic , which makes batteries for Tesla at its jointly operated battery plant in Nevada, said the business turned profitable in the quarter ended Dec. 31. The rapid increase in Tesla’s output helped push that business into the black, Panasonic Chief Financial Officer Hirokazu Umeda told reporters in Tokyo on Monday, declining to give specific figures. Another boost came from Argus analyst Bill Selesky, who raised his price target on Tesla to a Street-high of $808 from $556, reflecting revenue growth from the legacy Model S and Model X cars, as well as strong demand for the new Model 3, which accounted for more than 80% of fourth-quarter production. “Despite past production delays, parts shortages, labor cost overruns, and other difficulties, we expect Tesla to benefit from its dominant position in the electric vehicle industry and to improve performance in 2020 and beyond,” the analyst wrote in a note to clients.