Elon Musk grinning as Tesla Bears lose their pants

The meteoric rise of Tesla with shares doubling in the first 23 sessions of this year on record vehicle deliveries, earlier-than-expected profits and China's new Tesla plant, is the stuff of legends. And that is what Elon Musk's electric vehicle company became, a legend with a market capitalisation topping $160bn, which is larger than the 3 big US automakers, General Motors, Ford and Chrysler combined. The sceptics who were gambling against Tesla and have been a thorn in the side of its founder have recorded crippling losses that the Wall Street Journal says is in the region of $8.4bn in over five weeks. Some of them are sticking to their position saying that Tesla "is a car company, yes a higher-end one, but still a car company with the same low margins of other auto makers." Tesla bulls however see the company in a bigger league than the automakers drawing parallels to tech giants Apple and Amazon. – Linda van Tilburg

The agony of the Tesla Bears: $8.4bn of losses in five weeks

By Gunjan Banerji and Gregory Zuckerman

(The Wall Street Journal) – Fred Lande's heart was pounding as he watched Tesla shares charge to an all-time high of $968.99 last week. It wasn't because he was happy.

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