Tesla has the makings of a controversial stock. It’s a company with products that are loved by its users and hated by its skeptics, and it’s led by a man that’s both admired by his supporters and loathed by his critics. It was then no surprise when Tesla became one of the most-shorted companies in the market. But amidst Tesla’s rise last year and the release of its Q1 2021 vehicle production and delivery report, it appears that TSLA bears, or at least a good number of them, are starting to go extinct.
A good overview of how a company is perceived could be found in the overall stance of analysts covering the stock. Among the 41 analysts covering TSLA today, 15 have a “Buy” rating, 14 maintain a “Hold” rating, and 12 have a “Sell” rating, as per data from Bloomberg. This suggests that Tesla remains quite polarizing, as Buy ratings typically outnumber Sell ratings 10-to-1 for stocks in the Dow Jones Industrial Average.
Tesla (TSLA) sets new records with with 184k vehicle deliveries in Q1 2021
The same is true for TSLA’s price targets. Tesla’s bull-bear spread between its highest price target ($1,036) and its lowest ($135) stands at $901, or about 133% of the current $661.75 stock price. In the Dow Jones Industrial Average, the average bull-bear spread for stocks is less than 50%. While Tesla has maintained its polarizing nature in the market, however, there is one metric that suggests that a TSLA bear exodus is taking place.
There was a time not too long ago when Tesla’s short-interest ratio was about 25%, which meant that one in every four shares was borrowed and sold by investors betting on the company to fail. Such a short-interest ratio was insane, as the average for stocks in the S&P 500 is just about 3%. Today, this ratio stands at just about 6%, which is still higher than average but significantly lower than its figures three years ago.
As noted in a Barron’s report, there is an important mitigating factor in Tesla’s short-interest ratio, in the form of hundreds of millions in convertible bonds outstanding, most of which were issued long ago and are capable of being converted into TSLA stock at around $65 per share. Considering that Tesla stock is worth more than 10x that amount today, the convertible bonds have rallied over 500% over the past year.
While this is great for convertible bond holders, numerous bond investors are actually not interested in Tesla stock. Instead, some are convertible arbitrage investors, who buy convertible bonds and short the underlying stock. This way, the arbitrage trader is able to lock in a notable bond yield. S3 Partners managing director of predictive analytics Ihor Dusaniwsky has noted that the bonds are “mostly held by hedge funds.” He also estimates that about half of Tesla’s current short interest might be part of a convertible arbitrage strategy.
If the S3 Partners’ executive’s estimates are accurate, it would suggest that about 22 million Tesla shares are sold short, or about 2.9% of TSLA stock. This number is substantial, but it is small compared to the 200 million TSLA shares sold short back in 2019. This does not mean to say that Tesla bears have entirely given up, of course, as some will likely remain with their short position for a long time to come. However, the declining number of TSLA shares that are sold short does suggest that bears, or at least a good number of them, may be throwing in the towel.
Former Goldman Sachs Asset Management CIO Gary Black has noted that the declining number of TSLA bears may be due to the fact that some critical bearish arguments against Tesla are being soundly debunked. One of these is the notion that Tesla’s share of the EV market will get drastically smaller as soon as other automakers enter the electric car segment. Despite the noise by proponents of this thesis, the opposite has been true, as more and more car buyers tend to leave gas-powered vehicles–not other electric cars like Tesla–when they purchase EVs made by other automakers.
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Tesla back on top as Norway’s EV market surges to 98% share in February
Tesla became Norway’s top-selling brand with 1,210 registrations, representing a 16.6% share.
Tesla reclaimed the top spot in Norway’s auto market in February as electric vehicles captured more than 98% of all new car registrations.
The rebound follows a sharp January slump triggered by VAT rule changes, which prompted numerous car buyers to advance their purchases into late 2025.
As per data from the Norwegian Road Traffic Information Council (OFV), 7,127 new electric vehicles were registered in February, representing a 98.01% market share. Fossil-fuel vehicles and hybrids accounted for just 2% of total new registrations.
Total new car registrations reached 7,272 units in February, hinting at a rapid recovery after January sales fell nearly 75% year-over-year following VAT adjustments.
OFV Director Geir Inge Stokke noted that similar patterns were observed after previous VAT changes in 2022, with demand temporarily weakening before normalizing, as noted in an Allt Om Elbil report.
“We are now seeing signs that the market is returning to a more normal level of activity, which we also experienced after the VAT change in 2022. At that time, changes in demand led to a weak start to 2023. We have seen the same pattern this year,” he said.
Amidst this trend, the Tesla Model Y made a strong comeback in the domestic market. After an unusually weak January that saw the Tesla Model Y drop to seventh place, the model returned to the top of Norway’s sales chart in February.
The Model Y recorded 1,073 registrations, giving it a 14.8% market share for the month. Tesla also became Norway’s top-selling brand with 1,210 registrations, representing a 16.6% share. Toyota followed with 941 registrations, while Volkswagen, Volvo, and Skoda rounded out the top five brands.
The February data suggests that Tesla’s January dip was tied more to timing effects around VAT adjustments than to structural demand shifts. It would then be interesting to see how the rest of the year unfolds for Tesla, particularly as the company pushes for the release of its Full Self-Driving (Supervised) system to Europe this year.
News
Tesla arson suspect pleads guilty, faces up to 70 years in prison
The update was announced by the U.S. Attorney’s Office for the District of Nevada.
A Las Vegas man has pleaded guilty to federal arson charges tied to a March 2025 attack on a Tesla Collision Center in Nevada.
The update was announced by the U.S. Attorney’s Office for the District of Nevada.
According to court documents, on March 18, 2025, Paul Hyon Kim spray-painted the word “RESIST” on the front entrance of the Tesla Collision Center before damaging the facility and multiple vehicles.
Federal prosecutors stated that Kim used a PA-15 multi-caliber firearm equipped with a .300 BLACKOUT upper receiver and a 7.62mm silencer to shoot out surveillance cameras. He then fired multiple rounds into Tesla vehicles on the property.
Authorities stated that Kim later threw three Molotov cocktails into three separate Tesla vehicles. Two of the devices exploded and ignited the vehicles, while a third did not detonate. In total, five Tesla vehicles were damaged in the incident.
Kim pleaded guilty to two counts of arson of property used in interstate commerce, one count of attempted arson of property used in interstate commerce, and one count of unlawful possession of an unregistered firearm classified as a destructive device.
The mandatory minimum sentence for the charges is five years in federal prison, though the total maximum statutory penalty is 70 years, as per a release from the United States Attorney’s Office of the District of Nevada.
Sentencing is scheduled for May 27, 2026, before U.S. District Judge Jennifer A. Dorsey. A federal judge will determine the final sentence after considering the U.S. Sentencing Guidelines and other statutory factors.
The case was investigated by the FBI, the Bureau of Alcohol, Tobacco, Firearms and Explosives, and the Las Vegas Metropolitan Police Department, with assistance from the Clark County Fire Department.
Elon Musk
SpaceX pursues 5G-level connectivity with Starlink Mobile V2 expansion
SpaceX noted that the upcoming Starlink V2 satellites will deliver up to 100 times the data density of the current first-generation system.
SpaceX has previewed a major upgrade to Starlink Mobile, outlining next-generation satellites that aim to deliver significantly higher capacity and full 5G-level connectivity directly to mobile phones.
The update comes as Starlink rebrands its Direct-to-Cell service to Starlink Mobile, positioning the platform as a scalable satellite-to-mobile solution that’s integrated with global telecom partners.
SpaceX noted that the upcoming Starlink V2 satellites will deliver up to 100 times the data density of the current first-generation system. The company also noted that the new V2 satellites are designed to provide significantly higher throughput capability compared to its current iteration.
“The next generation of Starlink Mobile satellites – V2 – will deliver full cellular coverage to places never thought possible via the highest performing satellite-to-mobile network ever built.
“Driven by custom SpaceX-designed silicon and phased array antennas, the satellites will support thousands of spatial beams and higher bandwidth capability, enabling around 20x the throughput capability as compared to a first-generation satellite,” SpaceX wrote in its official Starlink Mobile page.
Thanks to the higher bandwidth of Starlink Mobile, users should be able to stream, browse the internet, use high-speed apps, and enjoy voice services comparable to terrestrial cellular networks.
In most environments, Starlink says the upgraded system will enable full 5G cellular connectivity with a user experience similar to existing ground-based networks.
The satellites function as “cell towers in space,” using advanced phased-array antennas and laser interlinks to integrate with terrestrial infrastructure in a roaming-like architecture.
“Starlink Mobile works with existing LTE phones wherever you can see the sky. The satellites have an antenna that acts like a cellphone tower in space, the most advanced phased array antennas in the world that connect seamlessly over lasers to any point in the globe, allowing network integration similar to a standard roaming partner,” SpaceX wrote.
Starlink Mobile currently operates with approximately 650 satellites in low-Earth orbit and is active across more than 32 countries, representing over 1.7 billion people through partnerships with mobile network operators. Starlink Mobile’s current partnerships span North America, Europe, Asia, Africa, and Oceania, allowing reciprocal access across participating nations.
Tesla back on top as Norway’s EV market surges to 98% share in February
Tesla arson suspect pleads guilty, faces up to 70 years in prison
