Famed short-seller Jim Chanos told CNBC on Tuesday he is still short on Tesla.
“We’ve been pretty accurate on most of the things we’ve said about the company — not the stock, certainly — although, SolarCity was an exception to that,” the founder and managing partner of Kynikos Associates said on “Halftime Report” at the 2017 Delivering Alpha conference, presented by CNBC and Institutional Investor.
Last year, Chanos voiced questions about the profitability of Tesla’s business, and called the deal between the electric-auto maker and SolarCity a “shameful example of corporate governance at its worst.”
The closely followed investment manager said Tuesday that Tesla is a good example of a cult stock “whereby the market will look at it anyway it wants to, in a glass-half-full kind of mode.”
The carmakers’ stock is up more than 70 percent year to date, according to FactSet.
Source: Tech CNBC
Jim Chanos says he's still betting against Elon Musk's Tesla: It's a 'cult stock'