Tesla Inc. (TSLA) CEO Elon Musk may end up getting the last laugh after all.
Tesla shares were up nearly 3% Monday afternoon, taking the stock's price back above $300 and erasing all of the losses the company's shares took following last week's much-talked-about earnings call.
Tesla's May 2 earnings call was most notable for the way Musk was dismissive of questions from a pair of Wall Street analysts who asked questions that the mercurial CEO believed were inconsequential.
The immediate aftermath of the call was a selloff that took more than $2 billion from the electric vehicle maker's market capitalization.
However, Musk has been active on social media since last week, promising to burn the short sellers who have made Tesla the most shorted stock on the market.
The shorts aren't backing down from their position with bets against the company representing 34% of the stock available for trading, according to data from IHS Markit.
Since reaching an all-time high of $390 in June 2017, the company has lost more than a quarter of its value amid Model 3 delays and quarterly result missteps.
Musk says the company will not need to raise money this year, but most people of Wall Street disagree.
Analysts at CreditSights wrote a note Monday saying that liquidity at the company remains tight and that the company's "cash bleed" will likely double in the second quarter as the company ramps up Model 3 production.
Production issues, target misses, and the fact that the company has never had a profitable quarter have not been able to stop Tesla's stock. So it may not be surprising that the negative fallout from a snarky phone call with Wall Street insiders has been short-lived.