The founder of Greenlight Capital, David Einhorn, called the boasts of Elon Musk about Tesla's self-driving vehicle potential "a lot of horse----."
Greenlight Capital's David Einhorn Talks S--- About Tesla While Shorting Tesla Stock
At the Sohn Investment Conference this week, the founder and president of Greenlight Capital, David Einhorn said recent promises by Elon Musk about Tesla's future potential for self-driving vehicles amounted to "a lot of horse----," according to a new report by CNBC.
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Einhorn, who is famously short on Tesla stocks—a practice where an investor makes money on a stock's fall in price, rather than its rise—, presented a slide presentation highlighting recent statements Musk has made about the company's future potential for self-driving vehicles. Particularly, Einhorn singled out Musk's declaration during Tesla's Autonomy Day event last month that "[i]t’s financially insane to buy anything other than a Tesla. They will be like owning a horse in three years," and a more recent statement that "[a] Tesla will be worth $150,000 to $250,000 in 3 years."
Einhorn then declared "[t]hat’s a lot of horse---t" as the poo emoji covered Elon Musk's face on the slide. Without explaining his rationale, Einhorn then went on to give a presentation about transportation, leasing, and investments by his firm other than their apparently sizeable bet against Tesla's success.