SCTY is not TSLA. It is shortable, although with 25% of the stock sold short there are a lot of folks on that side of the boat right now.
$46.69 up $8.36 (+21.82%) That price puts the company's market cap at about $3.5 billion with estimated revenues of $250mm next year.
The only similarities between the two companies are that they both take advantage of subsidies and they both have Mr. Musk at the helm. More after the jump.
From What's Trading:
Massive short squeeze in SolarCity today (SCTY). The stock is up $7.64 to $45.98 in heavy trading of 6.8 million shares on guidance related to 2014 MW deployment. Meanwhile, 28K calls and 5,000 puts traded on the electricity provider. Much of the activity is in Weekly calls that expire after today. Oct 40, 42, and 45 calls are also drawing interest. This stock is heavily shorted with a short-to-float ratio of almost 26% as of Sep 13. Shares are now up over 285% year-to-date.
Six weeks ago Barron's slammed the company in a Feature and Forbes took the opposite side:
Dark Clouds Over SolarCity
Celebrity entrepreneur Elon Musk adds allure to solar-energy operator SolarCity, but there are big questions about government incentives, on which the company relies....MOREBarron's Takes Potshot At SolarCity, Misses By Wide Margin
