Friday 22 November 2019
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businessinsider - 14 days ago

David Einhorn claps back at Elon Musk s criticism, calls out Tesla s alien dreadnought factory

Greenlight Capital CEO David Einhorn clapped back at recent criticism from Elon Musk on Friday Einhorn a well-known Tesla short also called out the company for its shaky record of profitability, comparing it to his firm s history of positive returns. He also referenced Tesla s alien dreadnought factory in a letter published on Twitter. The statements came after Musk published a letter on Friday addressing Einhorn as Mr. Unicorn and stating the hedge fund made false statements about Tesla in a recent investor letter. Watch Tesla trade live on Markets Insider. Greenlight Capital president and well-known Tesla short seller David Einhorn snapped back at Elon Musk s recent criticism on Friday, stepping up a long-running feud between the two. Einhorn published a letter responding to a post Musk made on Friday addressing him as Mr. Unicorn and claiming Greenlight made numerous false allegations against Tesla in a recent letter to investors. We certainly are capable of making mistakes and if we said anything false, we will correct it for the record, Einhorn wrote. He added: I can t imagine how it would feel to have entire websites like https://elonmusk.today chronicling your untruths. The two have battled it our numerous times in the past, with Musk famously sending Einhorn a box of shorts last year to make fun of his position against Tesla. Read more: The chief global strategist at JPMorgan Asset Management lays out 3 reasons why the Fed s recent rate cuts could hold the economy back for 10 years even as investors celebrate Einhorn took his letter a step further on Friday, calling out Tesla for its volatile profitability over the last decade compared to Greenlight s history of positive returns. In Musk s statement, he extends an invitation for Einhorn to meet with him to learn more about Tesla and to tour some facilities. I think some facility visits would be fun (can we start in Buffalo?), Einhorn wrote in response. I might learn the difference between your alien dreadnought factory and cars made by hand in a tent. Einhorn continued: We welcome your offer to learn more about Tesla and will take you up on it. This is a stark contrast from Tesla s prior position. Greenlight s initial note to investor s was reportedly sent to address Tesla s better-than-expected third-quarter earnings, which sent the company s share price soaring 20%. Shares of Tesla are up about 1% year-to-date. Join the conversation about this story NOW WATCH: A big-money investor in juggernauts like Facebook and Netflix breaks down the 3rd wave firms that are leading the next round of tech disruption


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