Never Bet Against Elon Musk

From oversold to overbought in the speed of a Model S Plaid

On the 18th of March we highlighted that Tesla was very oversold, bearishness had reached an extreme level and that the GS (numbers) downgrade of the same day was a downgrade to buy into. We were a little early on that call (timing when catching a falling knife is always difficult) - but as we are now good in the money on the trade we are rolling our long equity position into calls instead.