- Tesla’s stock has appreciated by nearly 90% since its yearly low.
- Sentiment is changing around the stock and some short-sellers have closed their positions.
- David Einhorn will receive yet another parcel from Elon Musk even as he remains short on Tesla.
Elon Musk is taking a victory lap around short-sellers as Tesla’s stock rallies following a surprise profit in the third quarter. And in characteristic Musk, one of Tesla’s most prominent bears will get a gift that’s supposedly meant to help them get through this ‘difficult’ phase. Not just thoughts and prayers!
It all started when prominent Tesla short-seller Greenlight Capital branded the electric car firm and another of its shorts ‘material losers’ earlier this week. The hedge fund run by David Einhorn also accused Musk of perpetrating ‘significant fraud’. Elon Musk did not take long to respond:
It is understandable that you wish to save face with your investors, given the losses you suffered from Tesla’s successful third quarter, especially since you’ve had several down years in performance and a sharp drop in assets under management from $15 billion to $5billion. You have our sympathies.
Short sellers in Elon Musk’s thoughts and prayers?
And in a repeat of a practical joke he first pulled last year in August, Musk has promised to send Einhorn a ‘small gift of short shorts to help you through this difficult time’.
Last year in August Musk sent the same that after it was reported that Einhorn wasn’t renewing his Tesla lease.
The billionaire hedge funder went on to accept the gift while taking a jibe at Musk by claiming that they were shipped with ‘manufacturing defects’.
Elon Musk extends Tesla short-seller rope to hang himself
But on a more sober note,