David Einhorn, Who’s Shorting Tesla Stock, Rips Elon Musk for Spouting ‘Horsesh*t’

elon musk david einhorn tesla short
Billionaire hedge funder David Einhorn, who's shorting Tesla stock, says Elon Musk spouts “a lot of horse---t. (screenshots)

Hedge fund billionaire David Einhorn — who has been shorting Tesla stock for several years — trashed Elon Musk again.

This time, the Greenlight Capital founder remarked that Musk spouts “a lot of horsesh*t” about his electric-car company.

Einhorn made the comments at the Sohn Investment Conference in New York on May 6, where he dismissed Musk’s promises about Tesla technology as over-hyped baloney.

david einhorn elon musk tesla stock
Hedge funder David Einhorn says Elon Musk overpromises and underdelivers. (screenshot)

Einhorn regales audience with frat-boy scatalogical humor 🙄

“That’s a lot of horse—t,” Einhorn said during a slide presentation that showed a poop emoji over Musk’s face. The audience erupted into laughter at the frat-boy humor (video below).

The slides included recent Musk quotes, such as these:

  • “A Tesla will be worth $150,000 to $250,000 in 3 years.” (Elon Musk, May 2019)
  • “It’s financially insane to buy anything other than a Tesla. They will be like owning a horse in three years.” – (Elon Musk, April 2019)

Einhorn: Don’t interrupt your enemy when he’s screwing up

Einhorn then suggested that he’s gleefully observing Tesla self-destruct from the sidelines.

He crowed: “Napoleon once said, ‘Never interrupt your enemy when he’s making a mistake,’ so I won’t.”

It’s fitting that Einhorn quoted Napoleon, since many in the financial community think David suffers from a Napoleon Complex. 🤣😂😁

Einhorn is part of group of short-selling scum trying to sink Tesla

Like other vultures that are short-selling Tesla stock, David Einhorn has a financial incentive to trash Musk and talk TSLA down, in the hopes that it will perform badly. That’s how Greenlight Capital makes money.

In April 2019, Einhorn torched Musk in a blistering investor letter, where he gloated that “the wheels are coming off — literally” at Tesla.

Einhorn suggested that anyone betting on Tesla should bail out now before it totally implodes:

“The signs are everywhere — from the lack of demand, desperate price cutting, layoffs, closing-and-then-not-closing stores, closing service centers, cutting capex, rushed product announcements, and a new effort to distract investors from the demand problem with hyperbole over (Tesla’s) autonomous driving capabilities.”

Einhorn lost millions betting against Tesla in 2018

However, Einhorn has a terrible track record betting against Elon Musk and Tesla.

Last year, Greenlight Capital lost 34% — making 2018 the worst year the fund has had since Einhorn launched it in 1996.

Einhorn’s catastrophic bet against Tesla was a major reason why the firm lost millions. In the first six months of 2018, Greenlight Capital lost 18.3%.

In contrast, Tesla shares rocketed 29% during that same period, making Einhorn’s Tesla short the hedge fund’s second-biggest loser for that time frame.

So far this year, Tesla stock has taken a beating.

tesla stock price
Tesla’s stock has underperformed in 2019. (Yahoo Finance)

However, over a five-year time horizon, TSLA is actually doing okay. And there’s plenty of time for it to recover before the end of 2019.

tesla stock price chart 5 year
Tesla stock is doing okay over a five-year horizon. (Yahoo Finance)

That’s something David Einhorn should keep in mind as he continues to shoot his mouth off and bet against Musk.

Case in point: Tesla had an erratic 2018, but it was the best-performing auto stock for that year. And that was terrible news for short-sellers like Einhorn who bet against it.

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