Steve “Big Short” Eisman Is Now Shorting Tesla

Tesla deserves to implode. It is crony through and through. Taxpayers have propped the company for long enough. Plus if one wants a reasonably good electric car one can buy a BMW now.

(From Bloomberg)

Steve Eisman, the Neuberger Berman Group money manager who famously predicted the collapse of subprime mortgages before the 2008 financial crisis, is shorting Tesla Inc. over a series of doubts about the electric-car maker.

“Elon Musk is a very, very smart man, but there are a lot of smart people in this world and you’ve got to execute. He’s got execution problems,” Eisman said in an interview with Bloomberg Television. “He’s nowhere in autonomous driving, as far as I can tell, and big competition is coming in his space next year.” Representatives for Tesla didn’t immediately return a call for comment.

Tesla, whose eroding cash position has alarmed some investors, recently asked suppliers to return a portion of payments for parts to help the electric-car maker to turn a profit.

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