Tesla bears are now making crazy claims, short-circuiting their cause, says Michael Brush
As Tesla bears celebrate the electric-car maker’s stock decline on news of disappointing deliveries in the first quarter, many are soft-pedaling a key angle: Tesla reiterated its 2019 delivery guidance.
“I think there’s a bit of irrationality coming from the short side.” Shawn Kim, automotive analyst at Gabelli Funds Shorts typically do great research, and they’re usually sober-minded. After all, the losses on short sales can be theoretically infinite. But like bubble-crazed “longs,” shorts fall prey to sentiment extremes.
OK, but unfounded felony allusions? Seems more like hubris than fair play to me — or fun. “Something isn’t right,” responds Kupperman. “It’s a very tongue-in-cheek way of pointing out the obvious.” Kupperman, however, cites this behavior to support his substance-abuse allegations. “I don’t think it is over the top to allude to drug use, when he himself has alluded to drug use,” says Kupperman. “I am a businessman. I don’t tweet about drugs. I don’t even know the latest drug lingo.” Yes, but stating someone can’t stay sober is a different kind of charge. Kupperman seems to hold his ground. “Put it all together, where there is smoke there is usually fire.
“He’s acknowledged being a little loopy on Ambien. He’s smoked pot on video, and he is extremely erratic,” responds Tilson. “Don’t show up on national TV smoking weed. That’s what I would tell you if you didn’t want people talking about this. Nobody is being unfair to Elon Musk here, given his behavior.”
Because Tilson is such a bright guy, it caught my attention recently when he cited his “spidey sense” as a source of insight on why Tesla stock is doomed to close the year below $100.Tilson says intuition complements his fundamental analysis and original research. “When all three line up, that’s when I’ve made the most money.” Fair enough. George Soros has his back twinge, which he says told him when to get out of positions.
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