Elon Musk makes good on his promise to send David Einhorn ‘a box of short shorts’ after Tesla hurt the short-seller’s performance (TSLA)


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Elon Musk sent short-seller David Einhorn a “box of short shorts to comfort him” after the hedge fund manager blamed Tesla for its dismal l performance.
Einhorn, who manages the $5.5 billion Greenlight Capital firm, tweeted a photo of the shorts on Friday.
Tesla has had a wild week after Musk announced on Tuesday that he intends to take the company private.
Follow Tesla’s stock price in real-time here.

Elon Musk hasn’t been quiet about his disdain for short-sellers.

And now Tesla’s chief executive appears to have made good on his promise to send hedge fund manager David Einhorn a “box of short shorts to comfort him through his difficult time” after the billionaire blamed Tesla for his fund’s 18.3% decline in the first half of 2018.

“I want to thank @elonmusk for the short shorts,” Einhorn tweeted Friday morning, “He is a man of his word! They did come with some manufacturing defects. #tesla.”

Business Insider has confirmed that the unverified account is, in fact, the billionaire hedge fund manager.

Einhorn, a noted short-seller, told his Greenlight Capital clients in a July letter that he had abandoned his Tesla Model S reservation in favor of a Jaguar I-PACE electric sedan. He also blamed Tesla’s rising stock price in the first half of 2018 for his fund’s losses, which prompted the mocking tweet from Musk.

The short shorts’ appearance comes amid a wild week for Tesla, which was kicked off by a report that Saudi Arabia’s public investment fund had snapped up a roughly 3% stake in Tesla to the tune of around $2 billion. Just minutes later, Musk sent shockwaves through markets when he tweeted that he was “considering taking Tesla private” at $420 per share and that funding had been secured.

Shares of Tesla skyrocketed after the tweet, which was accompanied by a copy of the email Musk sent to the entire company. But separate reports from Bloomberg and the Wall Street Journal on Wednesday said the Securities and Exchange Commission was investigating the statements for potential illegality, which took the stock price back below its levels before the tweet.

Tesla is down 0.86% in trading Friday and up 9.1% since the beginning of the year.

SEE ALSO: Elon Musk offers billionaire David Einhorn a ‘box of short shorts’ to comfort him after his Tesla short bet put a big dent in his fund (TSLA)

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Source:: Businessinsider – Tech

      

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