Elon Musk is back. And we're not just talking about Tesla's rally but also the company's owner's odd manners. After all, that's what makes his business a hot topic in the first place.

So, what's going on? Tesla stock is on a roll. A bull run so strong it inspired Elon Musk to get back to its sassy side. The Tesla CEO metaphorically took a jab at Bill Gates.

Elon Musk has sent a warning to Bill Gates and the EV maker's short sellers for holding a position against the company. Bill Gates, co-founder of Microsoft, is a well-known Tesla bear and has often been a target of Musk’s bold comments because of his long-standing short position in the EV maker.

It's unclear how large of a short position Gates holds. What is clear, though, is that Gates confirmed he shorted Tesla stock. But what's wrong with that, and why is Elon so upset?

The short sellers believe Tesla is on the brink of financial trouble. And they have their reasons.

Musk’s warning that shorts will be “obliterated” is a bold statement from someone whose company was the worst-performing stock in the S&P 500 earlier this year. Tesla vehicle sales were down 6.6% in the first half of the year; the Cybertruck failed to meet high expectations; and Musk finally dropped Tesla’s ambitious goal of increasing volumes from 1.8 million EVs last year to 20 million by 2030.

However, things have changed since then. Over the past two trading days, right after the delivery update, Tesla's shares surged more than 16%, adding $100 billion in market cap.

In that rally, the short sellers suffered losses of more than $3.5 billion. Moreover, short interest in Tesla stock currently stands at 3.5%, or 97 million shares shorted, with a notional value of $22.4 billion.

So, the troubles are over, right? Not so fast, Elon. Forget about the rhetoric and look at the numbers.

A total of 443,956 electric cars were shipped in the second quarter, slightly above expectations of 438,000 vehicles. Besides, one should not forget that the consensus view was low for the EV maker. In reality deliveries fell.

On an annualized basis, delivered vehicles fell 4.7% compared to the same quarter a year ago. This was Tesla’s second straight quarterly decline in vehicle sales. The company's P/E ratio is high at 53.63. Revenue and earnings in 2024 – the period with the greatest visibility – are both forecasted to shrink.

So, what will prevail? The fear of missing out and the desire to get rich quickly, or value investing based on sound judgment and real facts rather than hype? What's your bet?