Even a Tesla Bear Expects Elon Musk to Report Strong Earnings

Ann Santiago
October 24, 2018

"Tesla appears to be the only company that can actually produce and sell electric cars", the note said.

Yet in a U-turn, Mr Left said Tesla's Model 3 had been a "proven hit" while numerous warning signs at the firm "have proven..." It has been accelerating production of its Model 3, the mass-market vehicle with a potential to disrupt the entire automotive sector - yet the company remains burdened by billions in debt and has yet to show a profit.

Tesla will release third-quarter earnings after the market close on Wednesday, a week earlier than it has typically reported.

Citron's change of opinion came just a month after the Andrew Left-led firm sued Tesla and Musk, saying Musk fraudulently engineered his abandoned plan to take the carmaker private to "burn" short-sellers.

"While the media has been focused on Elon Musk's eccentric, outlandish and at times offensive behavior, it has failed to notice the legitimate disruption of the auto industry that is now being dominated by Tesla".

A prominent short seller who's been betting against Tesla Inc has changed his tune and sent the shares surging by saying it's "smoking" the rest of the auto industry.

Musk is one of the social media platform's highest profile tweeters and frequently uses the platform to post updates on his companies.

Last week, a U.S. judge approved the settlement between the Securities and Exchange Commission, Tesla Inc and Elon Musk.

"The Shortseller Enrichment Commission is doing incredible work".

Over the past few months, Musk has faced a series of controversies linked to his activity on Twitter. Tesla and Musk settled with the regulator by agreeing to pay $20 million each and have Musk step down as chairman for three years.

Left, 48, made headlines last month by suing Tesla and Musk over his August 7 tweets about trying to take the company private.

The company also accepted a $20m fine, despite not being charged with fraud.

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