Hyperdrive
Tesla Short David Einhorn Says Last Quarter Was ‘As Good As It Gets’
- Hedge fund manager sees demand waning for costlier Model 3s
- CEO Elon Musk sees profit, positive cash flow going forward
This article is for subscribers only.
Prominent Tesla Inc. short seller David Einhorn thinks the third quarter was the high-water mark for the electric-car maker, because sales of pricier Model 3 sedans will wane going forward.
“We believe this will be as good as it gets for the company,” Einhorn said on an earnings call for Greenlight Capital Re Ltd., the reinsurer tied to his hedge fund, Greenlight Capital. “We believe they’ve exhausted most of the demand from customers who can afford the highest-priced versions of the Model 3.”