Day Traders Steer Tesla Higher

Published on May 17, 2013
by Steven Russolillo and Jonathan Cheng

For weeks, Anne-Marie Baiynd kept a close eye on shares of Tesla Motors Inc.

On May 9, a day after the company posted its first-ever quarterly profit, the stock exploded higher in heavy trading. Ms. Baiynd, a full-time short-term trader since 2006, pounced. From her home office in Charlotte, N.C., the 48-year-old says she scooped up shares at $67.15 and sold them on Monday for a 31 percent gain.

The very next day, Ms. Baiynd changed tack, she says, successfully betting Tesla would head lower on a day when the shares finished down 14 percent from their intraday high.

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