With its Q3 release, Tesla offered a rebuttal to many bears and short-sellers. The company hadn’t seen a profit despite achieving record deliveries, and many bears thought it would keep burning cash to deliver narrow-margin Model 3s. While the company’s profit sustainability is still questionable, its surprise Q3 profitability silenced a lot of critics.

Bears also highlighted the company’s project timelines. Although Musk has previously been overly optimistic about project timelines, things seem to be turning around. Tesla’s China Gigafactory is running ahead of schedule and has started trial production runs.