Shorting specialist predicts Tesla's demise

Well-known investor in the world of finance, Jim Chanos, has placed his money on further decline in the Tesla share. He believes it will end in bankruptcy.

Photo: Tesla

Jim Chanos, who has dedicated his life's work to investing in the downturn of shares, a practice known as shorting, predicts that electric car manufacturer Tesla will go bankrupt, he tells Reuters in an interview Tuesday night.

The investor founded equity fund Kynikos and turned it into a highly profitable business. He has now increased his bet on the downturn of the Tesla share in 2017.

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