Hedge Funds: The Einhorn-Musk Battle Takes a New Turn on Twitter
We might not have live sports right now. But we do have the constant jarring back and forth between Greenlight Capital and Tesla Inc. The former’s founder David Einhorn is one of the most prominent hedge fund managers shorting Elon Musk’s company. On Thursday – the day after Tesla’s earnings report – Einhorn questioned the financials of the electric vehicle manufacturer. Specifically, he wanted more information about the firm’s accounts receivable, costs, stalled factories, and the effects of international currency shifts.
“Can you or (Zack) explain,” Einhorn wrote, misspelling the company’s CFO’s name. He wondered “if not only your accounts receivable are suspect, but your income statement as well.”
Einhorn has roughly 48,000 Twitter followers. By the afternoon, the tweet received more than 2,500 likes and 700 retweets, according to Reuters.
Greenlight Capital and Tesla Earnings
Yesterday, Tesla reported earnings that topped Wall Street expectations. However, the conference call also featured a long rant that Musk went on about regarding stay-at-home restrictions and the coronavirus. Musk is closing in on a massive bonus tied to stock performance and has faced criticism for his pressure to reopen factories despite California state orders.
Musk pushed back yesterday, calling the restrictions “fascist.”
He also offered this lengthy quote:
“I think the people are going to be very angry about this and are very angry. It’s like somebody should be, if somebody wants to stay in the house that’s great, they should be allowed to stay in the house and they should not be compelled to leave. But to say that they cannot leave their house, and they will be arrested if they do, this is fascist. This is not democratic. This is not freedom. Give people back their goddamn freedom.”
Musk and Einhorn have exchanged many barbs in the past. Last August, Einhorn demanded that Musk resign after a Business Insider report tracked the company’s efforts to inspect all solar panels for faulty connectors that caused rooftop fires.
Musk had previously sent a pair of “short shorts” to Einhorn.
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