Business
Why Tesla drives some of us crazy – The Australian Financial Review
Tesla has been driving short sellers crazy for almost the entire 10 years that it has been a listed company.
The bear case is that the auto industry was highly competitive and price sensitive, which eroded profitability. In their minds the market had gone mad.
It’s been the same story ever since, only the numbers have gotten ever bigger. Hedge funds have continually been lured toward shorting Tesla. That included several Australian funds that felt Tesla was over-hyped, had a weak balance sheet and was overly reliant on access to cheap funding from increasingly exuberant capital markets.
Today, Tesla’s…
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