Carson Block and Elon Musk can agree on at least one thing: betting against Tesla Inc.’s stock is a bad idea.
Block, the longtime Musk critic and short-selling founder of Muddy Waters Capital LLC, said on Wednesday that he doesn’t have any bearish wagers against Tesla even though he thinks the business is unsustainable.
“I’m not short the stock, thank God,” Block said in an interview with Bloomberg’s Tracy Alloway and Joe Weisenthal on the Odd Lots podcast. “We used to joke that Tesla, when it files for bankruptcy, will probably have a $30 billion market cap. Short it at your own risk. I wouldn’t do that.”
Tesla’s more than 300% surge since mid-March has captivated bulls while baffling skeptics who say the electric vehicle maker is grossly overpriced. Even as individual investors buy at a frenzied pace, the value of wagers against the stock has swelled to nearly $20 billion. It now trades at 182 times estimated 12-month earnings, versus 10 times for General Motors Co.
Carson Block Warns Tesla Short Sellers: ‘I Wouldn’t Do That’, Bloomberg, Jul 16
The US stock market is starting the year in a state of fear, as reflected…
The crypto market is struggling to grow without the support of stock markets, with reduced…
- NZDUSD broke key support 0.5600 - Likely to fall to support level 0.5500 NZDUSD…
- EURCHF reversed from resistance zone - Likely to fall to support level 0.9350 EURCHF…
The Canadian dollar may strengthen as the extended rally in USDCAD loses momentum. A corrective…
Despite the decline in the cryptocurrency market, three coins - BNB, XRP, and TRON -…
This website uses cookies