Rising lows suggest accumulation. It could be setting up for a short squeeze irregardless of long term chances vs the majors.
In fact Musk
would be well advised to merge with a 2nd or 3rd tier player like
Chrysler. Mazda would be the only other logical choice as it has US domestic manufacturing and a market cap in the low teen billions and 9x P/E. Mazda is also building a plant with Toyota in Alabama.
Teslas 30m short interest is wide open for a VW/ Porsche squeeze. Would certain traders miss the opportunity should it present itself?