Musk tweets gloats to hedge fund adversary

Earlier, Tesla reported third-quarter revenue of $6.303 billion, down 8 percent from a year earlier, and net profit of $143 million ($1 billion), down 54 percent from a year earlier. It was also Tesla’s third-quarter profit after a year. The turnaround this year has reduced The Pressure on Masca a lot and has allowed him to perform better in the capital markets. In addition, Tesla’s Shanghai super plant has been completed and is expected to start production by the end of the year.

Musk tweets defiant lying agency and sends shorts taunting

Tesla’s stock has risen nearly 50 percent since July, especially after its third-quarter earnings report.

But the rise in the share price has made it hard for investors to short, and Tesla’s third-quarter earnings have cost short-sellers a lot. For example, the hedge fund Greenlight Capital.

Shorting is when you don’t have stock in your hand, but you can borrow from a securities firm to sell it, and then wait for the stock to fall to buy back the same amount of stock back to the securities company, the spread of the stock is your gain.

According to foreign media reports, Musk, who has been proud of him in recent times, tweeted about David Einhorn, the head of Green Light Capital, and invited him to visit the Tesla Super factory and present him with a “super shorts” with a taunt. David Einhorn has repeatedly lashed out at Musk in an open letter to investors.

In August, Einhorn publicly called on Musk to resign as Tesla’s CEO. Although Tesla made a profit in the third quarter, Einhorn said it was still bearish on Tesla, even though that judgment led to a one-off loss. “Given Tesla’s endless negative news and the end of growth, the rebound in share prices is surprising,” he said. ”

Musk hit back, saying That Einhorn made a lot of false accusations against Tesla, “Given that Tesla’s successful third-quarter earnings made you lose money, you must want to save face.” I sympathize with you. And invite him to discuss Tesla privately, “Your investors will appreciate you because Tesla is smart.” ”

It’s not the first time the two have clashed, according to Einhorn, who received a pair of shorts from Musk last year and said, “Thanks for Musk’s shorts, but Tesla does have a manufacturing flaw.” As for Musk’s offer to visit the factory, he said: “It’s going to be fun to visit Tesla. Perhaps I can understand the difference between a superfactory and a workshop”, which is equally ironic.

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