Kass Doubles Down On Tesla Motors Inc Short, MS Doubles PT

Doug Kass of Seabreeze Partners Management increased his short position on Tesla Motors Inc (NASDAQ:TSLA) last Wednesday when the stock was trading between $218 and $224, increasing the cost basis to $212, just in time to see a glowing Morgan Stanley (NYSE:MS) report more than double its 12-month price and drive Tesla stocks toward $250.

Tesla’s stock rises seven-fold over the last year

“[Wednesday's] earnings beat — albeit, the better profits excluded noncash compensation costs and other expenses — provided...