Tesla Motors Inc (TSLA) CEO Elon Musk Says Shorting Is ‘Probably Not A Good Idea’
Tesla Motors Inc (NASDAQ:TSLA) CEO Elon Musk recently interviewed with FOX News to give talk about both of his companies. During the interview, Musk said that he will prove people that are shorting their stock wrong.
On Shorting Tesla
“I think that we’ve got a really good story in the long term for Tesla. Our valuation right now is… assuming a lot of good execution on our part in the future. We’re going to do our best to work hard and make sure that investors are not disappointed. I think we’ve got some very exciting products coming out. I think, in the past I said it’s really crazy to short Tesla. Is it so crazy to short Tesla right now? I mean it’s not as crazy but I still think it’s probably not a good idea,” stated Musk in the interview.
The Model X SUV
Elon Musk was also asked about the timeline for the Model X SUV. “We’re hoping to bring that to market at the end of next year and then achieve volume production in 2015 and the Model X will be an SUV version of the Model S so it’s still a premium vehicle and it’s really a third generation car that will be more of a mass market car. That’s the point at which I think we’ll be able to produce a long range car that is compelling and affordable and that’s the main breakthrough that we’ve been trying to achieve from the beginning of Tesla,” Musk added.
The FOX reporter asked Musk for his response as to whether he is stretched too thin. On top of running Tesla Motors Inc. (NASDAQ:TSLA) and SpaceX, Musk also drafted up a design for the Hyperloop. “Actually that’s why I explicitly said when I unveiled the Hyperloop design that I am going to remain focused on Tesla and SpaceX. It’s not because I don’t think the Hyperloop is good but I do have an obligation to do my best for Tesla and SpaceX and if I take on yet another thing it will be difficult to do so. I am hopeful that others will take up the Hyperloop project or something like it because I think it will be great to have something revolutionary on the mass transportation front,” said Musk.This article was written by Amit Chowdhry. You can follow me at @amitchowdhry or on Google+ at +AmitChowdhry