Tesla Motors Inc (NASDAQ:TSLA) is named as the best performer in terms of stock growth out of all the companies that are over a $10 billion market capitalization. Tesla’s stock has shot up around 410% so far this year. The second best performing stock is Netflix, which has grown around 286% this year.
Tesla Is Not Being Shorted
When a stock is being shorted, it means to sell in advance of acquiring stocks with the aim of making a profit when the price falls. Tesla Motors was one of the most popular short positions earlier this year and the initial surge in the stock caused a short squeeze.
The shorting of Tesla Motors Inc (NASDAQ:TSLA) stock has been declining at a steady pace since March.
Jeffrey Gundlach of DoubleLine Capital recently said that he was afraid to short the company stock because there is no telling where a “cult stock” like this could go.
As of May, Tesla Motors Inc (NASDAQ:TSLA) was trading at around 121 times their expected earnings and they had a market cap of $6.1 billion. Now Tesla Motors Inc (NASDAQ:TSLA) has a market cap of around $20 billion.
Tesla Motors Inc (NASDAQ:TSLA) is expected to hit around 20,000 vehicles by this year and over 400,000 vehicles per year by 2025.