Greenlight Capital Re’s David Einhorn is coming off of his best quarter as a hedge fund manager at the New York-based firm. With substantial growth to report in Q4 2020, Einhorn was a big winner in a year filled with losers. But even if Einhorn saw spectacular gains in his portfolio, it isn’t all bright because Tesla still gave him a substantial loss due to its surge on Wall Street in 2020.

Einhorn’s fund backed off of their short position slightly following news of Tesla’s inclusion in the S&P 500 on December 21st. Upon the announcement in November, it was obvious that the stock would surge in value, so Einhorn made the right play to lower his short position. Still, he maintains that Tesla stock is a “fad,” even though he admits that owning its products is not.

“Os carros da Tesla não são uma moda passageira; se fossem, a Tesla venderia muito mais do que vende”, a Greenlight Capital Carta de ganhos do quarto trimestre de 4 disse. “A moda está em possuir ações da TSLA. Já equipamos antes que o dobro do preço de uma ação bobo não é duas vezes mais bobo; ainda é bobo. Mas o que dizer de 20 vezes um preço bobo? Na bolha da internet de 2000, a Cisco Systems atingiu um pico de 29x a receita, o que seria um desconto para onde a TSLA agora é negociada.”

Quem usa shorts curtos: a caça ao fantasma de David Einhorn pela fraqueza de Tesla

Tesla stock bounced up over 700% in 2020 due to battery tech developments, profitability, scalability, and growth in the EV sector, something other automakers couldn’t do in the pandemic year. Tesla managed to continue its growth with several record quarters, all making a substantial hit on short-sellers portfolios. It was one of the toughest years in history for short-sellers, and TSLAQ was the victim. $ 38 bilhão em perdas were applied to those who try and make money off of Tesla’s downfall, an event that just didn’t happen, unfortunately for them.

However, TSLA’s long-term investors pushed hard and continued to buy the stock on every opportunity. Any slight dip in price was a chance to gain more holdings. It was an occasion that was oftentimes celebrated in a very public fashion by the automaker’s biggest supporters. Now, they’re tasting the fruits of their patience as TSLA continues to grow in value.

Tesla ‘mania’ spoils notorious short-seller Einhorn’s Q3 Earnings

Greenlight ended up finishing with a 25% gain in Q4 and a 5.2% gain in valuation for the full-year. Tesla’s growth in the second half of 2020 was “sidestepped” by Einhorn and Greenlight after the S&P inclusion news, so, likely, the only reason the firm ended up profitable for 2020 as a whole is because of the strategy to back off of shorting the stock.

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