Elon Musk's SolarCity jumps 16%May 20, 2013: 2:25 PM ET
Investors can't seem to get enough of Elon Musk.
Just take a look at SolarCity (SCTY).
Shares of the Musk-backed solar energy company rallied 16% Monday.
Shares took a hit last week after the company reported a wider-than-expected first-quarter loss. But the stock quickly bounced back after SolarCity reached a deal with Goldman Sachs (GS) to finance $500 million of solar projects.
Investors on StockTwits were quick to jump on the Musk bandwagon.
Musk, who is the chairman of SolarCity, was a co-founder of Internet payment system Paypal.
But he's perhaps best known as the founder of electric car company Tesla (TSLA), which makes what Consumer Reports called the best car it ever tested. That would be the Model S, for anyone who missed it.
Poor Tim Cook. It's not like Apple's products have fallen out of favor... at least not as much as the stock. Shares of Apple (AAPL) are down nearly 40% from their all-time high above $700.
One die hard Musk fan was pining to get in on Musk's privately-held space exploration and transportation company, SpaceX.
Not everyone was so bullish. Some traders pointed out that SolarCity has been heavily shorted and that the rally is being driven by investors buying back shares to cover those bets.
Shares of SolarCity have been on a tear in the past few months, more than quadrupling in value since debuting on the Nasdaq in December at an IPO price of $8.
With the shorts being squeezed out, some traders see more upside for SolarCity.
For one other trader, the Musk trade works in mysterious ways.