Billionaire Tesla Short Seller’s Fund Drops 18% — Long Burned Shorting TSLA, Blames Everyone Else | CleanTechnica
Yes, we’re talking about a fund manager named David Einhorn here. His latest update to investors indicates that his fund lost 18.3% of its value in the first half of the year. Much of that loss came from shorting TSLA. Despite an enormous amount of media criticism and claims of bankwuptcy, Tesla’s stock price rose 29% in the second quarter, which pummeled fat cats like Einhorn who had bet big against the company.
You can try to fight the tide and disruptive technology, but you will probably get burned, or drown eventually.