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Elon Musk shoots back at the Tesla seller



The latest round started early Friday, when Musk posted a snarky tweet responding to previous Einhorn comments accusing him of fraud. In a shareholder letter last week, Einhorn – who has long campaigned for Tesla ( TSLA ) share – told the carmaker that the "accepted reality appears to be what Elon Musk is above the law. "
In his retort, Musk Einhorn addressed as" Mr. Unicorn, "saying that the hedge fund manager's letter contained" many false allegations, "and expressed sympathy for the loss Einhorn's hedge fund has lost money on Tesla. In German, the word for unicorn is the unicorn.

"It's understandable that you want to save face with your investors, given the losses you suffered from Tesla's successful third quarter," he wrote, "especially since you've had several down years in performance" at Greenlight Capital.

"Allow us to send you a small gift with short shorts to help you through this difficult time," Musk wrote, invoking a rubbish he has used with Tesla card sellers, or investors who are betting on the company's stock development.

Musk, who is known for public sparring with Tesla naysayers, previously sent Einhorn a box containing several pairs of short shorts, which Einhorn responded with a sarcastic thank you via Twitter.

This time, Musk also invited Einhorn to visit the Tesla plant and learn more about the company, adding "I'm sure your investors will appreciate that you became smart at Tesla."

Einhorn responded Friday, in an open letter challenging Musk to identify inaccuracies in Greenlight's shareholder letter and accepting the invitation to visit Tesla factories, writing, "I think visiting the plant would be fun (can we start in Buffalo?). I can learn the difference between your foreign dreaded factory and cars made by hand in a tent. "

Tesla's solar panel manufacturing facility is located in Buffalo, New York.

The tension between the two continues over the years. Einhorn's Greenlight Capital has long held a large short position in Tesla, which means it loses money when Tesla's shares perform well. Last month, Tesla posted a surprise result and sent the stock price up 30%, and Greenlight received a significant hit.
Einhorn's letter states that despite losses at Tesla, the company has a return of 24% so far this year. (The S&P 500 index is up 22%.) Still, the hedge fund has thrown more than half its value in recent years, largely due to games the company made to major technology companies, including Amazon ( AMZN ) and Netflix ( NFLX ) .

For years Einhorn has rebuffed Musk's controversial leadership style and asked to be ousted from the CEO of Tesla.

His October 30 letter to shareholders shines on Musk's handling of the SolarCity acquisition, which Tesla purchased for $ 2.6 billion in 2016. SolarCity, which was run by Musk's cousin, has been the target of numerous fraud and prosecution charges. return to before the acquisition.
  Why Tesla Offers Solar Panel Prices on Bottom

A lawsuit filed by Tesla shareholders claims MusCity bought the acquisition He was the majority shareholder, as a rescue of the troubled solar panel company. That case is on its way to trial in March.
Tesla has stated that the lawsuit is "based on claims by plaintiff's attorneys looking for a payday" and that "they are not representative of our shareholders who support our assignment and ultimately voted for the acquisition."

Over the past two years, Tesla's electric car business has been plagued by production problems related to the launch of the new Model 3 sedan. The company's latest income report indicates that the company may be at a turning point. It made a profit of $ 342 million, which indicated that it would increase car margins.

In Einhorn's letter to Musk Friday, he said Greenlight has "dozens of questions" about Tesla's finances and why the carmaker "owes over $ 1 billion to its customers."

Tesla did not immediately respond to a request for further comment Friday afternoon.


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