Musk has previously said that short selling is against the law.
Philp Pacheco/AFP via Getty Images.
The electric-car maker's valuation is out of kilter with the rest of the market, according to a short-seller who was an early critic of Germany payments company Wirecard.
Fraser Perring, the founder of Viceroy Research, asked if Toyota and VW were overvalued or overpriced. Consumers will be able to measure the quality and self-driving technology of the company. I'm short again.
On the first day of trading in 2022, the first day of Perring's announcement, the stock ofTesla soared 13.5%, on the back of strong fourth-quarter delivery figures. Short selling is when investors borrow and sell stock in order to make a profit.
After giving up some gains, the company is now trading at around $1,163. Over the last year and a half, its price has increased by more than 2,400%.
Despite being behind others in terms of profits and production, the company is now the most valuable in the world.
The next most valuable carmakers, Toyota and Volkswagen, are worth around $280 billion and $140 billion respectively.
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Toyota and Volkswagen sell more cars than any other company. According to the data, Toyota and VW shifted around 2 million units in the most recent quarter, compared with 309,000 cars delivered byTesla.
Perring was behind a note that attacked Wirecard. The German payments company collapsed in 2020 after admitting it had fabricated assets.
It is a tough target. In the middle of last year, the founder of Muddy Waters dropped his electric vehicle short after a high-profile campaign and defeat.
In the past, Musk has hit out at short-sellers. The activity should be illegal.
Business Insider has an original article.
