Jim Chanos Says Tesla Should Trade Like a Carmaker, Not Tech Company
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Short seller Jim Chanos predicted Tesla Inc. will lose money again this year and believes investors will eventually trade the stock more like a carmaker than a tech company.
“It has to lay people off like a car company, not like a Silicon Valley software company,” Chanos, the president of Kynikos Associates, said of Tesla on Bloomberg Television. “It has manufacturing plants like a car company. It’s got a lot of debt like a car company. So investors can try, can convince themselves all they want, that this is a software company or this is some leading-edge technology company. Sadly, the numbers belie that.”