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Tesla Is Still A 'Maximum Short' For Chanos

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Tesla Is Still A 'Maximum Short' For Chanos

Kynikos Associates founder Jim Chanos has held a short position in Tesla Inc (NASDAQ: TSLA) for a long time, and he doesn't appear to be changing his mind anytime soon.

Chanos was a guest on CNBC Thursday afternoon to share some of his favorite short positions.

See Also: Jim Chanos Talks Latest Major Short Win And How To Find New Opportunities

Tesla: 'Maximum Short'

Chanos is still "maximum short" Tesla Inc (NASDAQ: TSLA) and his best against the electric auto-maker is "one of my favorite positions," he said.

Chanos was telling clients in early 2020 that Tesla's parabolic surge towards $1,000 per share, in part due to a surge in retail buyers rushing to the stock, he said.

Despite the increased activity, "nothing's changed" at the company-level position, namely, it will "lose money this year."

Tesla's stock traded down 4.9% to $457.86 per share at time of publication. The stock has a 52-week high of $968.99 per share and a 52-week low of $176.99.

 

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