Jim Chanos: We think Tesla is worth zero
Famed short-seller Jim Chanos took another shot at Tesla (NASDAQ: TSLA) on Thursday, saying the company's equity is worth nothing. "Let's just say Tesla and Mr. Musk have a broad interpretation of the truth," Chanos, the founder of Kynikos Associates, told CNBC's Kelly Evans . "There have been all kinds of announcements that this company has made … that turned out not to be true." Chanos mentioned the unveiling of Tesla's electric Semi truck and roadster last month as examples. CEO Elon Musk said "the Semi would be available in 2019 and the roadster in 2020. Where is he producing those? Those production lines have to be up and approved years before we get into production." Chanos has been short Tesla for a long time. On Nov. 14, he said he added to his short position against the electric vehicle maker throughout the year. However, Tesla shares are up sharply this year, advancing nearly 60 percent in 2017.This is a breaking news story. Check back for updates. Famed short-seller Jim Chanos took another shot at Tesla (NASDAQ: TSLA) on Thursday, saying the company's equity is worth nothing. "Let's just say Tesla and Mr. Musk have a broad interpretation of the truth," Chanos, the founder of Kynikos Associates, told CNBC's Kelly Evans . "There have been all kinds of announcements that this company has made … that turned out not to be true." Chanos mentioned the unveiling of Tesla's electric Semi truck and roadster last month as examples. CEO Elon Musk said "the Semi would be available in 2019 and the roadster in 2020. Where is he producing those? Those production lines have to be up and approved years before we get into production." Chanos has been short Tesla for a long time. On Nov. 14, he said he added to his short position against the electric vehicle maker throughout the year. However, Tesla shares are up sharply this year, advancing nearly 60 percent in 2017. This is a breaking news story. Check back for updates.
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