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Activist short seller Citron goes long on Tesla, citing lack of competition, strong demand

( October 23, 2018, 15:46 GMT | Official Statement) -- MLex Summary: Activist short seller Citron Research has taken a long position in Tesla, reversing its stance after years of having criticized and bet against the electric car company. "Citron is long Tesla as the Model 3 is a proven hit and many of the TSLA warning signs have proven not to be significant," Citron wrote in a new report published today. Citron said its earlier predictions of significant competition from other electric vehicle makers have not come true, and that Tesla continues to dominate the market. Among reasons for going long, Citron said Tesla now has the ability to become a "sustainable, highly cash flow generative entity that is no longer reliant on the capital markets." It also said that Tesla has secured an agreement to build a wholly owned facility in Shanghai, China. Tesla's share price was up around 5.5 percent on the news in mid-day trade today. Other activist investors, most notably Greenlight Capital, continue to maintain short positions on Tesla.See report below....

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