Tesla stock skyrockets after legendary short seller goes long

Tesla Inc. stock rallied more than 6% Tuesday after famed short seller Citron Research turned long on it, saying that the Model 3 is “a proven hit” and that many of the “warning signs” about the Silicon Valley car maker have proven to be insignificant.

Tesla shares TSLA, +7.25% traded as high as 7.5% at $280.60 and were the second best performer on the Nasdaq-100.

Citron’s note comes after the Silicon Valley car maker announced late Monday that it will report third-quarter results on Wednesday, much sooner than anticipated.

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