"It's been quite the turbulent past month for shares of EV titan Tesla ( NASDAQ:TSLA), which fell back to around $400 per share after running into a ceiling of resistance at just shy of $470. Undoubtedly, those looking to play a breakout in the name are now pondering the path ahead, now that the broad stock market has seemingly turned against all things tech (especially the tech names with significant AI exposure)."
"While Tesla is far more than just an auto company (I believe it's valued as such, with the robotaxi opportunity and Optimus robot potential at the top of mind), the latest near-10% drop in the past five sessions is concerning to say the least, especially for a titan that Bill Gates reportedly had bet against for quite some time."
"Undoubtedly, CEOs firing back at big-name short-sellers is really nothing new, especially in this environment where many big-name investors are calling for a correction or painful bursting of an AI bubble. With Palantir ( NASDAQ:PLTR) CEO top boss Alex Karp recently taking aim at Dr. Michael Burry over his recently disclosed put options, it certainly seems like an uneasy time to be a net buyer of big tech as such bears emerge."
Tesla shares have declined sharply in the past month, retreating to roughly $400 after failing to break resistance near $470. The stock experienced a near-10% drop over five sessions, raising concerns given prior lofty growth expectations tied to robotaxi and Optimus opportunities. Bill Gates reportedly held a short position against Tesla, though the current status and size of that position remain unclear, and Elon Musk reportedly urged Gates to close a “crazy” short. CEO pushback against prominent short-sellers has become common as market participants debate whether some AI-related names are overvalued while others remain discounted.
Read at 24/7 Wall St.
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