Tags: Jim Chanos | Tesla | Elon Musk | Valeant

Short-Seller Chanos: Tesla's Management Reminds Me of Valeant

Short-Seller Chanos: Tesla's Management Reminds Me of Valeant
Tesla Model S on display at the Frankfurt Auto Show in Gremany. (AP Photo/Michael Probst, File)

By    |   Wednesday, 06 July 2016 04:55 PM

Tesla Motors, the electric-car company started by billionaire Elon Musk, in the past year has lost key executives. That reminds famed short seller Jim Chanos of Valeant Pharmaceuticals, the drugmaker that lost 90 percent of its market value.

Tesla has seen eight executives leave the company this year, Chanos told CNBC.
"The last high-profile company that we saw with such a similar large number of senior executive departures, was Valeant," Chanos said.

Chanos sold short Tesla’s stock, and has been a vocal critic of the carmaker, which last month agreed to buy SolarCity, another company founded by Musk.

He called the deal a "shameful example of corporate governance at its worst," according to CNBC.


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Tesla Motors, the electric-car company started by billionaire Elon Musk, in the past year has lost key executives. That reminds famed short seller Jim Chanos of Valeant Pharmaceuticals, the drugmaker that lost 90 percent of its market value.
Jim Chanos, Tesla, Elon Musk, Valeant
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2016-55-06
Wednesday, 06 July 2016 04:55 PM
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