TSLA shares were up over 5% today to reach an all-time closing high. There was no news from the company, although Morgan Stanley reiterated an overweight rating. Since the close on March 1st the share price has gained more than 31%. Many who have been heeding anti-electric and anti-green pundits are heavily short the stock and have been seeing their heads handed to them. The greatest market fortunes have been made by riding radiant waves of the future and ignoring counsel from those stuck in the mud of the past.
Today, as we have read here many times in recent weeks, supposed believers in TSLA have been taking profits. That might explain the lid that was placed on the day’s early price gains. It may seem clever to time swings in a volatile stock. A very few lucky players will be successful. I suspect that most will be forced to chase the stock after it moves to significantly higher prices.