Elon Musk Takes Swipe At Short Sellers As Anti-Tesla ETF Bites The Dust: 'Gluttons For Punishment'
Portfolio Pulse from Ananya Gairola
Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA), mocked short-sellers as an anti-Tesla ETF, known for its 'NOPE' branding, shut down due to significant losses. The fund, managed by George Noble, experienced a 69% decline in value within a year, while the S&P 500 rose over 20%. The fund had short positions on Tesla and other companies like Coinbase Global, DraftKings, Roku, and ARK Innovation ETF.
August 12, 2023 | 2:24 am
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POSITIVE IMPACT
Tesla Inc. was one of the companies that the 'NOPE' fund had short positions on. The fund's significant losses and eventual shutdown could be seen as a win for Tesla, potentially boosting investor confidence.
The 'NOPE' fund, which had short positions on Tesla, experienced significant losses and had to shut down. This could be seen as a validation of Tesla's performance and could potentially boost investor confidence in the company, leading to a positive impact on its stock price in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100