Tesla “Bears” Are Losing The War They Waged Against Tesla
For those in the investment world, the term “bear” represents those who expect a stock’s value to go down, or … [continued]
For those in the investment world, the term “bear” represents those who expect a stock’s value to go down, or … [continued]
I was trying to write the third part in my “Tesla [TSLA] Retail Investors Have an Advantage — Here’s Why” series, and I kept getting distracted by reading about the various short squeezes currently being carried out on Wall Street, headlined by Gamestop. On that topic, I am amazed by the parallels that the WallStreetBets subreddit has to a lot of my own research over the past few years.
It was just brought to my attention that Jim Chanos, one of Tesla’s fiercest short sellers, who believed/believes Tesla is a fraud, predicted in 2017 that Elon Musk would step down from his position as CEO of Tesla by 2020. He, like many short sellers, also predicted Tesla would go bankrupt, but he did not give a timeframe on that matter. As you can see, this information comes from a Reuters Global Markets Forum tweet from a little more than two years ago. It seems to be the only source of this information.
It seems that Tesla has had critics since the day it came out of stealth — or before that. Even … [continued]
In this episode of our CleanTech Talk podcast interview series, Chanan Bos and I sat down with Galileo Russell, CEO, Founder, Director, Producer, and Host of HyperChange TV.
The most popular CleanTechnica stories last week had a bit of a surprise — two solar panel stories were in the top three. The other story on the podium was a breakdown of Tesla Model 3 specs versus the specs of 21 competing models.
Having a sociology background, I have to say that the whole Tesla short seller drama is fascinating. In the year 2019, that includes flamewars on social media, paid trolls & misleading message makers, ties to mainstream media, fanboys & fangirls fighting back, and even a legal battle between the SEC and Twitter-loving CEO Elon Musk. Oh yeah, and billions of dollars on the line.
In honor of another wicked cool quarter, here’s a view of Tesla history that you might have missed if you only read CleanTechnica.
Love ‘em or hate ‘em, you have to give the short sellers credit for their dedication. Hedge fund manager Mark Spiegel even follows the market while taking a bath — two computer screens perched near the tub keep him apprised of the latest ill winds. Much of his time is spent sitting at his dining room table, sending a steady stream of tweets explaining why Tesla will eventually crash and burn, making Spiegel an even wealthier man.
You may remember months earlier this year when the financial press and certain analysts obsessed over Tesla’s declining cash balance. Perhaps it was genuine, but my impression is it was “concern trolling,” faux hysteria, and even an attempt to confuse and manipulate the public in the worst cases.
This struck me yet again while looking at a chart that a CleanTechnica reader created and shared.