Tesla bulls were right, bears are crying

As i wrote few weeks ago, the bulls are vastly outnumbered when it comes to Tesla. Those 7 funds that were bullish on the stock must be doing a dance right about now, where is the short sellers must be crying. The Tesla bears lost 1.4 billion today, as Tesla stock went up 20% on the surprising news of a profitable quarter.

Here are the key figures from the earnings report:

• 97,000 Vehicles delivered in the third quarter
• Gross Margin of 18.9%
• EPS of $1.86 (the expectations were that there would be a negative EPS)
• $6.3 Billion in Revenue.

Elon Musk also moved the Model Y expected release date to summer of 2020 instead of fall 2020.

Tesla Q3 results:

- Shanghai Giga ahead of schedule
- Model Y ahead of schedule
- Solar installs +48% from Q2
- GAAP profitable
- Positive free cash flow

— Elon Musk (@elonmusk) October 23, 2019

This writer is curios if the bears will persist and remain committed to their shorting strategy or will this surprise shake them up enough to abandon it.