Interesting comments from Greenlight’s David Einhorn. This is taken from the Q2 2017 letter:
Einhorn also add this to add about GM:
I’m posting this because I agree with Einhorn’s view. I have nothing against Tesla or Elon Musk. Like I said in the past, the world needs more Elon Musk. And I would like to buy a Tesla one day. The issue with Tesla is its valuation. It’s absolutely out of whack with any fundamentals. But this is Elon Musk’s gift: the ability to sell. When you think of GM or Ford, you think old dinosaur boring gas guzzling cars. When you think Tesla you think: technology, AI, self-driving, electricity, revolutionized concept, the future…etc.
Anyway Tesla sells dreams:
Disclosure: Long GM. Don’t have any positions in Tesla.