Telsa (NASDAQ: TSLA) CEO Elon Musk has mocked those who bet against his company after the share price surged on the back of its best ever quarterly sales result.
"Stormy weather in Shortville," Musk tweeted after Tesla's stock rose to 5.8 percent.
Tesla is currently trading at over $298 and has already risen 38 percent this year.
Great news for Tesla shareholders, except those who shorted the stock. Short sellers have suffered paper losses of 27 percent so far this year, equivalent to $2.25 billion, according to financial analytics firm S3 Partners.
Tesla now has a market capitalisation of $48 billion, narrowly overtaking Ford's (NYSE: F) $45 billion market cap but still just below General Motor's (NYSE: GM) $51 billion.
The latest jump in Tesla's share price came after the firm announced that it had delivered 13,450 Model S sedans and about 11,550 Model X sport-utility vehicles in the first quarter of this year, a significant jump on the 14,820 total registered a year earlier.
The Elon Musk-headed company now appears on track to meet its objective of shipping 47,000 to 50,000 vehicles in the first half of this year.