elon musk solar roof

After Tesla posted a surprise 3rd-quarter profit, short-sellers found themselves burned as the stock surged past $300.
Tesla’s automotive business is largely based now on its Model 3, a vehicle that endured a fraught birth but has now stabilized.
With Tesla now selling around 250,000 cars a year, a short position based on the car business is busted.
Short-sellers have now pivoted to the weak solar business and have been encouraged by allegations the Tesla merger with SolarCity in 2016 was effectively a bailout of the troubled solar-panel leaser and installer.
Greenlight Capital’s David Einhorn — a Tesla short — highlighted the SolarCity deal in his Q3 investor letter to clients of his hedge fund.
Visit Business Insider’s homepage for more stories.

For years now, Tesla has a been a battleground for short-sellers. At times, they’ve made money; but they’ve also lost money, most recently when Tesla posted a surprise third-quarter profit and the stock rocketed back above $300.

Tesla shares are volatile, but so are short-sellers attention spans. For much of the past two years, their focus was on Tesla’s automotive business, and that made sense. Even today, automotive revenues are the vast majority of Tesla’s topline, at over …read more


Source:: Businessinsider – Finance

      

(Visited 1 times, 1 visits today)

Leave a Reply

Your email address will not be published. Required fields are marked *