Tesla Skeptic Regrets Betting Against Musk: Report

According to Bloomberg, prominent investor Jim Chanos admitted that he missed the boat in a bet on Tesla and praised the company’s Mercurial Chief, Elon Musk.

Chanos, the founder of short-term sales firm Kinikos Associates, said his bet on Tesla became a dramatic responsibility last year as the company’s stock surged.

“It was obviously a pain,” said Chanos. He said he had reduced his exposure to trade.

After the upgrade from Goldman Sachs, Tesla’s share price rose 4.3% to $ 593.50 around noon. Tesla’s prices are now more than seven times higher than at the end of 2019.

Chanos, who made a name for himself by betting on Enron before it collapsed, is the latest big name given to the electric car company a humble pie. Electric vehicle companies stumbled early on the launch of production, but have recently gained momentum.

Investor James Chanos, shown here in 2011, regrets betting on the ever-rising Tesla stock.
Getty Images North America / Andy Kropa

Musk has frequently rejected short sellers such as “dislike”.

In 2018, Citron Research returned Tesla’s course to a “long” position. In short, Tesla was betting on a rise in stock prices as it boosted production of the three Model 3 cars.

Chanos has never met musk, but if they crossed the road, “it worked so far,” he told Bloomberg.

Tesla’s stock has gone bankrupt since the S & P Dow Jones Index announced on December 16 that it would add to the prestigious S & P 500.

After Goldman Sachs raised its price target from $ 455 to $ 780 on Thursday, the company went up further, saying the shift to battery-electric vehicles is “accelerating and will happen sooner than previously viewed.” Stated.

Tesla Skeptic Regrets Betting Against Musk: Report Source link Tesla Skeptic Regrets Betting Against Musk: Report

Back to top button