Jim Chanos reduces dimension of Tesla quick: Bloomberg Information

© Reuters.

(Reuters) – Jim Chanos, who has been short on Tesla (NASDAQ:) Inc’s stock for five years, has reduced his bet against the electric carmaker, the short-seller told Bloomberg News on Thursday.

Chanos told Bloomberg he has never met or had a conversation with Elon Musk, but if they were to meet he would say “job well done so far.” (https://bloom.bg/2VuaESO)

The change in tone from the bearish investor, whose hedge fund Kynikos Associates first disclosed the short position in 2016, comes ahead of Tesla’s entry to the benchmark index on Dec. 21.

Tesla’s stock has risen nearly seven-fold so far this year. Its shares were up 3.2% on Thursday, extending its meteoric rally.

“Obviously this is not being valued as a car company, it’s being valued on Musk … he’s the reason people own the stock,” Chanos had said in 2017. (https://reut.rs/3qmx5HP)

Chanos did not immediately respond to a Reuters request for comment.

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