Elon Musk on the Historical Precedent Influencing Tesla's Skeptics

Tesla reported upbeat earnings Wednesday, and the stock responded by finishing up 8% on the week. That undoubtedly hurt the stock's many short sellers -- according to S&P Capital IQ, there are 23.59 million shares sold short, for a short interest of nearly 23%.

On a recent visit to Fool HQ in Alexandria, Va., Tesla co-founder and CEO Elon Musk explained why he thought so many people may be skeptical of his "hard-core technology and design company" -- and why recent actions from Toyota and Daimler may sway the skeptics.

Here's an excerpt from Musk's chat at the Fool

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[TheTuboholic]

Elon Musk rocks and rules the fucking shit!

[FormulaWill]

Mr. Musks comments are very misleading. 1) The amount of investment put in to Tesla from Toyota, Panasonic (supplier) and Daimler are very small on a relative basis to these companies annual cap-x budgets. 2) Daimler will stop using Tesla drivetrain next year. I would be happy to explain to Elon why his company is the most shorted company on the Nasdaq. This technology is not industry transforming.

[ralthaqafi2]

the next automobile generation, today!