“Let’s just say Tesla and Mr. Musk have a broad interpretation of the truth,” Chanos, founder of Kynikos Associates, told CNBC’s Kelly Evans. “There have been all kinds of announcements that this company has made … that turned out not to be true.”
Chanos mentioned the unveiling of Tesla’s electric Semi truck and roadster last month as examples. The short seller noted that Tesla CEO Elon Musk said “the Semi would be available in 2019 and the roadster in 2020. Where is he producing those? Those production lines have to be up and approved years before we get into production.”
Chanos has been short Tesla for a long time. On Nov. 14, he said he added to his short position against the electric vehicle maker throughout the year.
However, Tesla shares are up sharply this year, advancing nearly 60 percent.
“To me, where the stock is now is not the story,” Chanos said. “I don’t care that it came from $30 or $200 or $300. That’s just meaningless.”
“We think the equity is worthless,” he said in the interview on “Closing Bell.”
Tesla did not immediately respond to CNBC’s request for comment.
Source: Tech CNBC
Jim Chanos: We think Tesla is worth zero