This year, Tesla Motors Inc (NASDAQ:TSLA) posted its first-ever profitable quarter and also clocked in impressive sales numbers in the early half of the first year. However, the most recent sales figure was not that impressive (it was most likely affected by the Tesla Model S sedans catching fire). Owing to the recent incidents, the shares of the company along with the short sellers’ interest have been a bit volatile.
Short sellers back again after initial loss
The short sellers could not gain as the company posted a profit in the first quarter taking the stock price to new heights. The price rose to three times its May level in October resulting in the short positions gathering losses. In November, the shares declined slightly amid fresh issues and concerns and short interest in the stock grew once again. The number of Tesla shares being borrowed has doubled since the start of November, which is the year’s highest level, says a report from Forbes.
At this year's SALT New York conference, Jean Hynes, the CEO of Wellington Management, took to the stage to discuss the role of active management in today's investment environment. Hynes succeeded Brendan Swords as the CEO of Wellington at the end of June after nearly 30 years at the firm. Wellington is one of the Read More
Shares of Tesla Motors Inc (NASDAQ:TSLA) tumbled 26% from the record closing price of $193.37 on September 30th after the news of a Model S catching fire broke out. The third Model S caught fire in Mexico when it hit against a concrete barrier at high speed. There was no news of anyone being seriously injured or dying from the fire.
Tesla 5 star rating re-affirmed
Earlier this week, the Model S maker said that it had been reaffirmed a 5 star rating from the National Highway Traffic Safety Administration (NHTSA) for its Model S in 2014. The rating, which is the highest safety rating in America, would give a much-needed boost to Tesla, which is dealing with the investigation over the fire accidents and awaiting the results from NHTSA. In Europe, the car manufacturer got a clean bill of health from German Federal Motor, Transport Authority, Kraftfahrt-Bundesamt (KBA), which stated that there was no manufacture-related defect found in the car.
Tesla Motors Inc (NASDAQ:TSLA) authorities did not waste any time to claim that the car they made is five times less prone to catch fire than the average gasoline car and there have been no serious injuries or death for any reasons including fire or otherwise in the Model S. The officials claimed that over the course of 100 million miles driven, Tesla has always safeguarded its drivers and passengers irrespective of the weather conditions. The car also has the best safety record compared to any car on the road, according to officials.