Hedge Funds Shorting Tesla Just Lost More Than $5 Billion

Bloomberg11-11

(Bloomberg) -- Since Donald Trump’s election win, the hedge funds clinging on to bets against Tesla Inc. have lost billions of dollars, as they feel the fallout of the special relationship between the...

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Comments

AlanTLK
11-11
AlanTLK
Please short more and lose more
StreetCat
11-11
StreetCat
Hedge fund no more democrats to cry for policy helps anymore lol
nywles
11-11
nywles
Thanks

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href=https://www.bnnbloomberg.ca/investing/commodities/2024/11/10/hedge-funds-shorting-tesla-just-lost-more-than-5-billion/><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Since Donald Trump’s election win, the hedge funds clinging on to bets against Tesla Inc. have lost billions of dollars, as they feel the fallout of the special relationship between the...</p>\n\n<a href=\"https://www.bnnbloomberg.ca/investing/commodities/2024/11/10/hedge-funds-shorting-tesla-just-lost-more-than-5-billion/\">Source 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took an on-paper hit of at least $5.2 billion, according to Bloomberg calculations based on data compiled by S3 Partners. They were among a shrinking group caught out, as many of their peers unwound bets against Tesla over the past four months, according to separate data provided by Hazeltree tracking the positions of more than 500 hedge funds. That adjustment of positions coincided with Musk’s endorsement of Trump on July 13.The Tesla chief executive officer has emerged as Trump’s biggest billionaire fan. Musk has used his position as the world’s richest person to turbocharge Trump’s campaign, making him one of the biggest donors of the 2024 election. Throwing his lot in with the president-elect now lines Musk up for a position of political influence, as Trump makes clear he’s planning to reward loyalists.Per Lekander, CEO of hedge fund manager Clean Energy Transition, says he had “a small short in Tesla heading into the election.” He’d managed to whittle the position down “quite a lot,” meaning his losses ended up being “pretty small.”“But we have lost some money,” he said.Since the Nov. 5 election, Tesla shares have gained close to 30%, representing well over $200 billion in additional market value. Against that backdrop, hedge funds that had previously built short bets against the company have since rushed to reverse course.As of Nov. 6, only 7% of hedge funds were net short Tesla, down from 17% in early July, according to weekly data provided by Hazeltree. That said, only 8% are net long the stock.Tesla has proved a dangerous stock to short, even as the rest of the EV industry struggles with headwinds spanning trade tensions, flagging consumer demand and increasing competition. In July, almost one-fifth of hedge funds tracked by Hazeltree had built bets against Tesla, only to be badly wrong-footed after the company unveiled sales figures that triggered a steep rally.The wider EV sector, meanwhile, has lost more than 12% this year, based on the performance of the KraneShares Electric Vehicles and Future Mobility Index ETF. That follows a roughly 9% decline in 2023. By contrast, Tesla is up roughly 30% in 2024, after more than doubling its value last year.Tesla’s performance also stands out in contrast to other stocks in the green sector. As markets digested the news of Trump’s victory, renewables stocks spanning wind to solar started to tank, amid fears Trump will live up to his promise to slash clean-energy incentives. Lekander says that in a little over a year from now, he expects even Tesla will feel the sting of Trump’s anti-climate policies.Notwithstanding the connection between the president-elect and Musk, “Trump’s win is very negative for Tesla as an auto company,” Lekander said. In about 12 to 18 months, the Trump administration will “eliminate a lot of the subsidies which Tesla really has been winning on.”Musk has lobbied for a role in Trump’s administration that would allow him to cut what he characterizes as government bureaucracy and waste. Trump quickly latched onto the idea, publicly playing with the notion of a job as “Secretary of Cost Cutting” for the Tesla CEO.Musk’s “position of influence now is sort of a bridge between, arguably, the tech community and Washington,” said Edward Lees, portfolio manager at BNP Paribas Asset Management. Lees says he’s “held Tesla at various points,” without elaborating on current positions.Musk, who publicly threw his support behind Trump after the then-presidential candidate survived an assassination attempt in July, has seen his own fortune soar in connection with the election outcome. In the days following the election, Tesla’s stock-price surge added $50 billion to his net worth, according to the Bloomberg Billionaires Index. That’s after Musk, who oversees an empire of six companies including X and Space X, spent more than $130 million on Trump and down-ballot Republicans in competitive House races.Lekander says he reckons that the Trump effect accounts for roughly a third of Tesla’s current share price of more than $300. “So now Tesla’s stock is more of a punting exercise on how much can Trump help Elon,” he said.","kind":"highlight","is_publish_news":true,"is_publish_highlight":true,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0},"commentList":[{"id":369657154445568,"gmtCreate":1731289872910,"gmtModify":1731289876613,"author":{"id":"4090374759889920","authorId":"4090374759889920","name":"AlanTLK","avatar":"https://community-static.tradeup.com/news/d8c804e09823389ba56fa2f288d76d11","vip":1,"hat":"https://static.tigerbbs.com/f84d87792f02cf78e80ee34979fd31e5","crmLevel":6,"crmLevelSwitch":1,"idStr":"4090374759889920","authorIdStr":"4090374759889920"},"htmlText":"Please short more and lose more","listText":"Please short more and lose more","text":"Please short more and lose more","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369657154445568","repostId":2482294578,"repostType":2,"repost":{"id":"2482294578","kind":"highlight","pubTimestamp":1731280679,"share":"https://ttm.financial/m/news/2482294578?lang=&edition=fundamental","pubTime":"2024-11-11 07:17","market":"hk","language":"en","title":"Hedge Funds Shorting Tesla Just Lost More Than $5 Billion","url":"https://stock-news.laohu8.com/highlight/detail?id=2482294578","media":"Bloomberg","summary":"(Bloomberg) -- Since Donald Trump’s election win, the hedge funds clinging on to bets against Tesla Inc. have lost billions of dollars, as they feel the fallout of the special relationship between the","content":"<html><head></head><body><p>(Bloomberg) -- Since Donald Trump’s election win, the hedge funds clinging on to bets against Tesla Inc. have lost billions of dollars, as they feel the fallout of the special relationship between the president-elect and Elon Musk.</p><p>Hedge funds that had short positions against Tesla between election day and Friday’s close took an on-paper hit of at least $5.2 billion, according to Bloomberg calculations based on data compiled by S3 Partners. </p><p>They were among a shrinking group caught out, as many of their peers unwound bets against Tesla over the past four months, according to separate data provided by Hazeltree tracking the positions of more than 500 hedge funds. That adjustment of positions coincided with Musk’s endorsement of Trump on July 13.</p><p>The Tesla chief executive officer has emerged as Trump’s biggest billionaire fan. Musk has used his position as the world’s richest person to turbocharge Trump’s campaign, making him one of the biggest donors of the 2024 election. Throwing his lot in with the president-elect now lines Musk up for a position of political influence, as Trump makes clear he’s planning to reward loyalists.</p><p>Per Lekander, CEO of hedge fund manager Clean Energy Transition, says he had “a small short in Tesla heading into the election.” He’d managed to whittle the position down “quite a lot,” meaning his losses ended up being “pretty small.”</p><p>“But we have lost some money,” he said.</p><p>Since the Nov. 5 election, Tesla shares have gained close to 30%, representing well over $200 billion in additional market value. Against that backdrop, hedge funds that had previously built short bets against the company have since rushed to reverse course.</p><p>As of Nov. 6, only 7% of hedge funds were net short Tesla, down from 17% in early July, according to weekly data provided by Hazeltree. That said, only 8% are net long the stock.</p><p>Tesla has proved a dangerous stock to short, even as the rest of the EV industry struggles with headwinds spanning trade tensions, flagging consumer demand and increasing competition. In July, almost one-fifth of hedge funds tracked by Hazeltree had built bets against Tesla, only to be badly wrong-footed after the company unveiled sales figures that triggered a steep rally.</p><p>The wider EV sector, meanwhile, has lost more than 12% this year, based on the performance of the <a href=\"https://laohu8.com/S/KARS\">KraneShares Electric Vehicles and Future Mobility Index ETF</a>. That follows a roughly 9% decline in 2023. By contrast, Tesla is up roughly 30% in 2024, after more than doubling its value last year.</p><p>Tesla’s performance also stands out in contrast to other stocks in the green sector. As markets digested the news of Trump’s victory, renewables stocks spanning wind to solar started to tank, amid fears Trump will live up to his promise to slash clean-energy incentives. </p><p>Lekander says that in a little over a year from now, he expects even Tesla will feel the sting of Trump’s anti-climate policies.</p><p>Notwithstanding the connection between the president-elect and Musk, “Trump’s win is very negative for Tesla as an auto company,” Lekander said. In about 12 to 18 months, the Trump administration will “eliminate a lot of the subsidies which Tesla really has been winning on.”</p><p>Musk has lobbied for a role in Trump’s administration that would allow him to cut what he characterizes as government bureaucracy and waste. Trump quickly latched onto the idea, publicly playing with the notion of a job as “Secretary of Cost Cutting” for the Tesla CEO.</p><p>Musk’s “position of influence now is sort of a bridge between, arguably, the tech community and Washington,” said Edward Lees, portfolio manager at BNP Paribas Asset Management. </p><p>Lees says he’s “held Tesla at various points,” without elaborating on current positions.</p><p>Musk, who publicly threw his support behind Trump after the then-presidential candidate survived an assassination attempt in July, has seen his own fortune soar in connection with the election outcome. In the days following the election, Tesla’s stock-price surge added $50 billion to his net worth, according to the Bloomberg Billionaires Index. That’s after Musk, who oversees an empire of six companies including X and Space X, spent more than $130 million on Trump and down-ballot Republicans in competitive House races.</p><p>Lekander says he reckons that the Trump effect accounts for roughly a third of Tesla’s current share price of more than $300. “So now Tesla’s stock is more of a punting exercise on how much can Trump help Elon,” he said.</p></body></html>","source":"bnn_bloomberg_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hedge Funds Shorting Tesla Just Lost More Than $5 Billion</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHedge Funds Shorting Tesla Just Lost More Than $5 Billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-11 07:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bnnbloomberg.ca/investing/commodities/2024/11/10/hedge-funds-shorting-tesla-just-lost-more-than-5-billion/><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Since Donald Trump’s election win, the hedge funds clinging on to bets against Tesla Inc. have lost billions of dollars, as they feel the fallout of the special relationship between the...</p>\n\n<a href=\"https://www.bnnbloomberg.ca/investing/commodities/2024/11/10/hedge-funds-shorting-tesla-just-lost-more-than-5-billion/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2063271972.USD":"富兰克林创新领域基金","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","BK4581":"高盛持仓","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","BK4099":"汽车制造商","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","LU0823414478.USD":"法巴经典能源转换基金","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","SG9999015978.USD":"利安颠覆性创新基金A","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4548":"巴美列捷福持仓","LU2023250330.USD":"ALLIANZ INCOME AND GROWTH \"AMG\" (USD) INC","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU1548497426.USD":"安联环球人工智能AT Acc","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU0234572021.USD":"高盛美国核心股票组合Acc","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","BK4585":"ETF&股票定投概念","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","TSLL":"Direxion Daily TSLA Bull 2X Shares","LU0234570918.USD":"高盛全球核心股票组合Acc Close","TSLA":"特斯拉","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU0056508442.USD":"贝莱德世界科技基金A2","BK4550":"红杉资本持仓","BK4588":"碎股","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","BK4574":"无人驾驶","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD"},"source_url":"https://www.bnnbloomberg.ca/investing/commodities/2024/11/10/hedge-funds-shorting-tesla-just-lost-more-than-5-billion/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2482294578","content_text":"(Bloomberg) -- Since Donald Trump’s election win, the hedge funds clinging on to bets against Tesla Inc. have lost billions of dollars, as they feel the fallout of the special relationship between the president-elect and Elon Musk.Hedge funds that had short positions against Tesla between election day and Friday’s close took an on-paper hit of at least $5.2 billion, according to Bloomberg calculations based on data compiled by S3 Partners. They were among a shrinking group caught out, as many of their peers unwound bets against Tesla over the past four months, according to separate data provided by Hazeltree tracking the positions of more than 500 hedge funds. That adjustment of positions coincided with Musk’s endorsement of Trump on July 13.The Tesla chief executive officer has emerged as Trump’s biggest billionaire fan. Musk has used his position as the world’s richest person to turbocharge Trump’s campaign, making him one of the biggest donors of the 2024 election. Throwing his lot in with the president-elect now lines Musk up for a position of political influence, as Trump makes clear he’s planning to reward loyalists.Per Lekander, CEO of hedge fund manager Clean Energy Transition, says he had “a small short in Tesla heading into the election.” He’d managed to whittle the position down “quite a lot,” meaning his losses ended up being “pretty small.”“But we have lost some money,” he said.Since the Nov. 5 election, Tesla shares have gained close to 30%, representing well over $200 billion in additional market value. Against that backdrop, hedge funds that had previously built short bets against the company have since rushed to reverse course.As of Nov. 6, only 7% of hedge funds were net short Tesla, down from 17% in early July, according to weekly data provided by Hazeltree. That said, only 8% are net long the stock.Tesla has proved a dangerous stock to short, even as the rest of the EV industry struggles with headwinds spanning trade tensions, flagging consumer demand and increasing competition. In July, almost one-fifth of hedge funds tracked by Hazeltree had built bets against Tesla, only to be badly wrong-footed after the company unveiled sales figures that triggered a steep rally.The wider EV sector, meanwhile, has lost more than 12% this year, based on the performance of the KraneShares Electric Vehicles and Future Mobility Index ETF. That follows a roughly 9% decline in 2023. By contrast, Tesla is up roughly 30% in 2024, after more than doubling its value last year.Tesla’s performance also stands out in contrast to other stocks in the green sector. As markets digested the news of Trump’s victory, renewables stocks spanning wind to solar started to tank, amid fears Trump will live up to his promise to slash clean-energy incentives. Lekander says that in a little over a year from now, he expects even Tesla will feel the sting of Trump’s anti-climate policies.Notwithstanding the connection between the president-elect and Musk, “Trump’s win is very negative for Tesla as an auto company,” Lekander said. In about 12 to 18 months, the Trump administration will “eliminate a lot of the subsidies which Tesla really has been winning on.”Musk has lobbied for a role in Trump’s administration that would allow him to cut what he characterizes as government bureaucracy and waste. Trump quickly latched onto the idea, publicly playing with the notion of a job as “Secretary of Cost Cutting” for the Tesla CEO.Musk’s “position of influence now is sort of a bridge between, arguably, the tech community and Washington,” said Edward Lees, portfolio manager at BNP Paribas Asset Management. Lees says he’s “held Tesla at various points,” without elaborating on current positions.Musk, who publicly threw his support behind Trump after the then-presidential candidate survived an assassination attempt in July, has seen his own fortune soar in connection with the election outcome. In the days following the election, Tesla’s stock-price surge added $50 billion to his net worth, according to the Bloomberg Billionaires Index. That’s after Musk, who oversees an empire of six companies including X and Space X, spent more than $130 million on Trump and down-ballot Republicans in competitive House races.Lekander says he reckons that the Trump effect accounts for roughly a third of Tesla’s current share price of more than $300. “So now Tesla’s stock is more of a punting exercise on how much can Trump help Elon,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":369639730770096,"gmtCreate":1731285616716,"gmtModify":1731289515032,"author":{"id":"3578091555231876","authorId":"3578091555231876","name":"StreetCat","avatar":"https://community-static.tradeup.com/news/10240289f5373e15472b574f0d2f37a8","vip":1,"crmLevel":7,"crmLevelSwitch":1,"idStr":"3578091555231876","authorIdStr":"3578091555231876"},"htmlText":"Hedge fund no more democrats to cry for policy helps anymore lol","listText":"Hedge fund no more democrats to cry for policy helps anymore lol","text":"Hedge fund no more democrats to cry for policy helps anymore lol","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369639730770096","repostId":2482294578,"repostType":2,"repost":{"id":"2482294578","kind":"highlight","pubTimestamp":1731280679,"share":"https://ttm.financial/m/news/2482294578?lang=&edition=fundamental","pubTime":"2024-11-11 07:17","market":"hk","language":"en","title":"Hedge Funds Shorting Tesla Just Lost More Than $5 Billion","url":"https://stock-news.laohu8.com/highlight/detail?id=2482294578","media":"Bloomberg","summary":"(Bloomberg) -- Since Donald Trump’s election win, the hedge funds clinging on to bets against Tesla Inc. have lost billions of dollars, as they feel the fallout of the special relationship between the","content":"<html><head></head><body><p>(Bloomberg) -- Since Donald Trump’s election win, the hedge funds clinging on to bets against Tesla Inc. have lost billions of dollars, as they feel the fallout of the special relationship between the president-elect and Elon Musk.</p><p>Hedge funds that had short positions against Tesla between election day and Friday’s close took an on-paper hit of at least $5.2 billion, according to Bloomberg calculations based on data compiled by S3 Partners. </p><p>They were among a shrinking group caught out, as many of their peers unwound bets against Tesla over the past four months, according to separate data provided by Hazeltree tracking the positions of more than 500 hedge funds. That adjustment of positions coincided with Musk’s endorsement of Trump on July 13.</p><p>The Tesla chief executive officer has emerged as Trump’s biggest billionaire fan. Musk has used his position as the world’s richest person to turbocharge Trump’s campaign, making him one of the biggest donors of the 2024 election. Throwing his lot in with the president-elect now lines Musk up for a position of political influence, as Trump makes clear he’s planning to reward loyalists.</p><p>Per Lekander, CEO of hedge fund manager Clean Energy Transition, says he had “a small short in Tesla heading into the election.” He’d managed to whittle the position down “quite a lot,” meaning his losses ended up being “pretty small.”</p><p>“But we have lost some money,” he said.</p><p>Since the Nov. 5 election, Tesla shares have gained close to 30%, representing well over $200 billion in additional market value. Against that backdrop, hedge funds that had previously built short bets against the company have since rushed to reverse course.</p><p>As of Nov. 6, only 7% of hedge funds were net short Tesla, down from 17% in early July, according to weekly data provided by Hazeltree. That said, only 8% are net long the stock.</p><p>Tesla has proved a dangerous stock to short, even as the rest of the EV industry struggles with headwinds spanning trade tensions, flagging consumer demand and increasing competition. In July, almost one-fifth of hedge funds tracked by Hazeltree had built bets against Tesla, only to be badly wrong-footed after the company unveiled sales figures that triggered a steep rally.</p><p>The wider EV sector, meanwhile, has lost more than 12% this year, based on the performance of the <a href=\"https://laohu8.com/S/KARS\">KraneShares Electric Vehicles and Future Mobility Index ETF</a>. That follows a roughly 9% decline in 2023. By contrast, Tesla is up roughly 30% in 2024, after more than doubling its value last year.</p><p>Tesla’s performance also stands out in contrast to other stocks in the green sector. As markets digested the news of Trump’s victory, renewables stocks spanning wind to solar started to tank, amid fears Trump will live up to his promise to slash clean-energy incentives. </p><p>Lekander says that in a little over a year from now, he expects even Tesla will feel the sting of Trump’s anti-climate policies.</p><p>Notwithstanding the connection between the president-elect and Musk, “Trump’s win is very negative for Tesla as an auto company,” Lekander said. In about 12 to 18 months, the Trump administration will “eliminate a lot of the subsidies which Tesla really has been winning on.”</p><p>Musk has lobbied for a role in Trump’s administration that would allow him to cut what he characterizes as government bureaucracy and waste. Trump quickly latched onto the idea, publicly playing with the notion of a job as “Secretary of Cost Cutting” for the Tesla CEO.</p><p>Musk’s “position of influence now is sort of a bridge between, arguably, the tech community and Washington,” said Edward Lees, portfolio manager at BNP Paribas Asset Management. </p><p>Lees says he’s “held Tesla at various points,” without elaborating on current positions.</p><p>Musk, who publicly threw his support behind Trump after the then-presidential candidate survived an assassination attempt in July, has seen his own fortune soar in connection with the election outcome. In the days following the election, Tesla’s stock-price surge added $50 billion to his net worth, according to the Bloomberg Billionaires Index. That’s after Musk, who oversees an empire of six companies including X and Space X, spent more than $130 million on Trump and down-ballot Republicans in competitive House races.</p><p>Lekander says he reckons that the Trump effect accounts for roughly a third of Tesla’s current share price of more than $300. “So now Tesla’s stock is more of a punting exercise on how much can Trump help Elon,” he said.</p></body></html>","source":"bnn_bloomberg_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hedge Funds Shorting Tesla Just Lost More Than $5 Billion</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHedge Funds Shorting Tesla Just Lost More Than $5 Billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-11 07:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bnnbloomberg.ca/investing/commodities/2024/11/10/hedge-funds-shorting-tesla-just-lost-more-than-5-billion/><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Since Donald Trump’s election win, the hedge funds clinging on to bets against Tesla Inc. have lost billions of dollars, as they feel the fallout of the special relationship between the...</p>\n\n<a href=\"https://www.bnnbloomberg.ca/investing/commodities/2024/11/10/hedge-funds-shorting-tesla-just-lost-more-than-5-billion/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2063271972.USD":"富兰克林创新领域基金","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","BK4581":"高盛持仓","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","BK4099":"汽车制造商","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","LU0823414478.USD":"法巴经典能源转换基金","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","SG9999015978.USD":"利安颠覆性创新基金A","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4548":"巴美列捷福持仓","LU2023250330.USD":"ALLIANZ INCOME AND GROWTH \"AMG\" (USD) INC","LU2087621335.USD":"ALLSPRING GLOBAL FACTOR ENHANCED EQUITY \"A\" (USD) ACC","LU1852331112.SGD":"Blackrock World Technology Fund A2 SGD-H","LU1720051017.SGD":"Allianz Global Artificial Intelligence AT Acc H2-SGD","LU0198837287.USD":"UBS (LUX) EQUITY SICAV - USA GROWTH \"P\" (USD) ACC","LU1861215975.USD":"贝莱德新一代科技基金 A2","LU1548497426.USD":"安联环球人工智能AT Acc","LU1861558580.USD":"日兴方舟颠覆性创新基金B","LU0820561818.USD":"安联收益及增长平衡基金Cl AM DIS","LU1861220033.SGD":"Blackrock Next Generation Technology A2 SGD-H","LU2602419157.SGD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"AC\" (SGD) ACC","LU1551013425.SGD":"Allianz Income and Growth Cl AMg2 DIS H2-SGD","LU0234572021.USD":"高盛美国核心股票组合Acc","LU2756315318.SGD":"ALLIANZ INCOME AND GROWTH \"AMG\" (SGDHDG) INC A","BK4585":"ETF&股票定投概念","LU1720051108.HKD":"ALLIANZ GLOBAL ARTIFICIAL INTELLIGENCE \"AT\" (HKD) ACC","TSLL":"Direxion Daily TSLA Bull 2X Shares","LU0234570918.USD":"高盛全球核心股票组合Acc Close","TSLA":"特斯拉","SG9999015952.SGD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (SGD) ACC","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU0056508442.USD":"贝莱德世界科技基金A2","BK4550":"红杉资本持仓","BK4588":"碎股","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","BK4574":"无人驾驶","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD"},"source_url":"https://www.bnnbloomberg.ca/investing/commodities/2024/11/10/hedge-funds-shorting-tesla-just-lost-more-than-5-billion/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2482294578","content_text":"(Bloomberg) -- Since Donald Trump’s election win, the hedge funds clinging on to bets against Tesla Inc. have lost billions of dollars, as they feel the fallout of the special relationship between the president-elect and Elon Musk.Hedge funds that had short positions against Tesla between election day and Friday’s close took an on-paper hit of at least $5.2 billion, according to Bloomberg calculations based on data compiled by S3 Partners. They were among a shrinking group caught out, as many of their peers unwound bets against Tesla over the past four months, according to separate data provided by Hazeltree tracking the positions of more than 500 hedge funds. That adjustment of positions coincided with Musk’s endorsement of Trump on July 13.The Tesla chief executive officer has emerged as Trump’s biggest billionaire fan. Musk has used his position as the world’s richest person to turbocharge Trump’s campaign, making him one of the biggest donors of the 2024 election. Throwing his lot in with the president-elect now lines Musk up for a position of political influence, as Trump makes clear he’s planning to reward loyalists.Per Lekander, CEO of hedge fund manager Clean Energy Transition, says he had “a small short in Tesla heading into the election.” He’d managed to whittle the position down “quite a lot,” meaning his losses ended up being “pretty small.”“But we have lost some money,” he said.Since the Nov. 5 election, Tesla shares have gained close to 30%, representing well over $200 billion in additional market value. Against that backdrop, hedge funds that had previously built short bets against the company have since rushed to reverse course.As of Nov. 6, only 7% of hedge funds were net short Tesla, down from 17% in early July, according to weekly data provided by Hazeltree. That said, only 8% are net long the stock.Tesla has proved a dangerous stock to short, even as the rest of the EV industry struggles with headwinds spanning trade tensions, flagging consumer demand and increasing competition. In July, almost one-fifth of hedge funds tracked by Hazeltree had built bets against Tesla, only to be badly wrong-footed after the company unveiled sales figures that triggered a steep rally.The wider EV sector, meanwhile, has lost more than 12% this year, based on the performance of the KraneShares Electric Vehicles and Future Mobility Index ETF. That follows a roughly 9% decline in 2023. By contrast, Tesla is up roughly 30% in 2024, after more than doubling its value last year.Tesla’s performance also stands out in contrast to other stocks in the green sector. As markets digested the news of Trump’s victory, renewables stocks spanning wind to solar started to tank, amid fears Trump will live up to his promise to slash clean-energy incentives. Lekander says that in a little over a year from now, he expects even Tesla will feel the sting of Trump’s anti-climate policies.Notwithstanding the connection between the president-elect and Musk, “Trump’s win is very negative for Tesla as an auto company,” Lekander said. In about 12 to 18 months, the Trump administration will “eliminate a lot of the subsidies which Tesla really has been winning on.”Musk has lobbied for a role in Trump’s administration that would allow him to cut what he characterizes as government bureaucracy and waste. Trump quickly latched onto the idea, publicly playing with the notion of a job as “Secretary of Cost Cutting” for the Tesla CEO.Musk’s “position of influence now is sort of a bridge between, arguably, the tech community and Washington,” said Edward Lees, portfolio manager at BNP Paribas Asset Management. Lees says he’s “held Tesla at various points,” without elaborating on current positions.Musk, who publicly threw his support behind Trump after the then-presidential candidate survived an assassination attempt in July, has seen his own fortune soar in connection with the election outcome. In the days following the election, Tesla’s stock-price surge added $50 billion to his net worth, according to the Bloomberg Billionaires Index. That’s after Musk, who oversees an empire of six companies including X and Space X, spent more than $130 million on Trump and down-ballot Republicans in competitive House races.Lekander says he reckons that the Trump effect accounts for roughly a third of Tesla’s current share price of more than $300. “So now Tesla’s stock is more of a punting exercise on how much can Trump help Elon,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":369643811692616,"gmtCreate":1731282984031,"gmtModify":1731282985858,"author":{"id":"3555362771681553","authorId":"3555362771681553","name":"nywles","avatar":"https://static.tigerbbs.com/a7e6473ec2cec348d167d7d95fbdb76c","vip":1,"crmLevel":8,"crmLevelSwitch":0,"idStr":"3555362771681553","authorIdStr":"3555362771681553"},"htmlText":"Thanks&nbsp;","listText":"Thanks&nbsp;","text":"Thanks","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/369643811692616","repostId":2482294578,"repostType":2,"repost":{"id":"2482294578","kind":"highlight","pubTimestamp":1731280679,"share":"https://ttm.financial/m/news/2482294578?lang=&edition=fundamental","pubTime":"2024-11-11 07:17","market":"hk","language":"en","title":"Hedge Funds Shorting Tesla Just Lost More Than $5 Billion","url":"https://stock-news.laohu8.com/highlight/detail?id=2482294578","media":"Bloomberg","summary":"(Bloomberg) -- Since Donald Trump’s election win, the hedge funds clinging on to bets against Tesla Inc. have lost billions of dollars, as they feel the fallout of the special relationship between the","content":"<html><head></head><body><p>(Bloomberg) -- Since Donald Trump’s election win, the hedge funds clinging on to bets against Tesla Inc. have lost billions of dollars, as they feel the fallout of the special relationship between the president-elect and Elon Musk.</p><p>Hedge funds that had short positions against Tesla between election day and Friday’s close took an on-paper hit of at least $5.2 billion, according to Bloomberg calculations based on data compiled by S3 Partners. </p><p>They were among a shrinking group caught out, as many of their peers unwound bets against Tesla over the past four months, according to separate data provided by Hazeltree tracking the positions of more than 500 hedge funds. That adjustment of positions coincided with Musk’s endorsement of Trump on July 13.</p><p>The Tesla chief executive officer has emerged as Trump’s biggest billionaire fan. Musk has used his position as the world’s richest person to turbocharge Trump’s campaign, making him one of the biggest donors of the 2024 election. Throwing his lot in with the president-elect now lines Musk up for a position of political influence, as Trump makes clear he’s planning to reward loyalists.</p><p>Per Lekander, CEO of hedge fund manager Clean Energy Transition, says he had “a small short in Tesla heading into the election.” He’d managed to whittle the position down “quite a lot,” meaning his losses ended up being “pretty small.”</p><p>“But we have lost some money,” he said.</p><p>Since the Nov. 5 election, Tesla shares have gained close to 30%, representing well over $200 billion in additional market value. Against that backdrop, hedge funds that had previously built short bets against the company have since rushed to reverse course.</p><p>As of Nov. 6, only 7% of hedge funds were net short Tesla, down from 17% in early July, according to weekly data provided by Hazeltree. That said, only 8% are net long the stock.</p><p>Tesla has proved a dangerous stock to short, even as the rest of the EV industry struggles with headwinds spanning trade tensions, flagging consumer demand and increasing competition. In July, almost one-fifth of hedge funds tracked by Hazeltree had built bets against Tesla, only to be badly wrong-footed after the company unveiled sales figures that triggered a steep rally.</p><p>The wider EV sector, meanwhile, has lost more than 12% this year, based on the performance of the <a href=\"https://laohu8.com/S/KARS\">KraneShares Electric Vehicles and Future Mobility Index ETF</a>. That follows a roughly 9% decline in 2023. By contrast, Tesla is up roughly 30% in 2024, after more than doubling its value last year.</p><p>Tesla’s performance also stands out in contrast to other stocks in the green sector. As markets digested the news of Trump’s victory, renewables stocks spanning wind to solar started to tank, amid fears Trump will live up to his promise to slash clean-energy incentives. </p><p>Lekander says that in a little over a year from now, he expects even Tesla will feel the sting of Trump’s anti-climate policies.</p><p>Notwithstanding the connection between the president-elect and Musk, “Trump’s win is very negative for Tesla as an auto company,” Lekander said. In about 12 to 18 months, the Trump administration will “eliminate a lot of the subsidies which Tesla really has been winning on.”</p><p>Musk has lobbied for a role in Trump’s administration that would allow him to cut what he characterizes as government bureaucracy and waste. Trump quickly latched onto the idea, publicly playing with the notion of a job as “Secretary of Cost Cutting” for the Tesla CEO.</p><p>Musk’s “position of influence now is sort of a bridge between, arguably, the tech community and Washington,” said Edward Lees, portfolio manager at BNP Paribas Asset Management. </p><p>Lees says he’s “held Tesla at various points,” without elaborating on current positions.</p><p>Musk, who publicly threw his support behind Trump after the then-presidential candidate survived an assassination attempt in July, has seen his own fortune soar in connection with the election outcome. In the days following the election, Tesla’s stock-price surge added $50 billion to his net worth, according to the Bloomberg Billionaires Index. That’s after Musk, who oversees an empire of six companies including X and Space X, spent more than $130 million on Trump and down-ballot Republicans in competitive House races.</p><p>Lekander says he reckons that the Trump effect accounts for roughly a third of Tesla’s current share price of more than $300. “So now Tesla’s stock is more of a punting exercise on how much can Trump help Elon,” he said.</p></body></html>","source":"bnn_bloomberg_highlight","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Hedge Funds Shorting Tesla Just Lost More Than $5 Billion</title>\n<style 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margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nHedge Funds Shorting Tesla Just Lost More Than $5 Billion\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-11 07:17 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bnnbloomberg.ca/investing/commodities/2024/11/10/hedge-funds-shorting-tesla-just-lost-more-than-5-billion/><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>(Bloomberg) -- Since Donald Trump’s election win, the hedge funds clinging on to bets against Tesla Inc. have lost billions of dollars, as they feel the fallout of the special relationship between the...</p>\n\n<a href=\"https://www.bnnbloomberg.ca/investing/commodities/2024/11/10/hedge-funds-shorting-tesla-just-lost-more-than-5-billion/\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"LU2063271972.USD":"富兰克林创新领域基金","LU0820562030.AUD":"ALLIANZ INCOME AND GROWTH \"AMH2\" (AUDHDG) H2 INC","BK4581":"高盛持仓","LU2756315664.SGD":"ALLIANZ INCOME AND GROWTH \"AMI\" (SGDHDG) INC","BK4099":"汽车制造商","SG9999015986.USD":"LIONGLOBAL DISRUPTIVE INNOVATION \"I\" (USD) ACC","LU0823414478.USD":"法巴经典能源转换基金","LU0097036916.USD":"贝莱德美国增长A2 USD","LU0466842654.USD":"HSBC ISLAMIC GLOBAL EQUITY INDEX \"A\" (USD) ACC","IE00BWXC8680.SGD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A5\" (SGD) ACC","LU1145028129.USD":"ALLIANZ INCOME AND GROWTH \"AQ\" (USD) INC","SG9999015978.USD":"利安颠覆性创新基金A","LU0689472784.USD":"安联收益及增长基金Cl AM AT Acc","BK4548":"巴美列捷福持仓","LU2023250330.USD":"ALLIANZ INCOME AND GROWTH 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INNOVATION \"I\" (SGD) ACC","IE00BSNM7G36.USD":"NEUBERGER BERMAN SYSTEMATIC GLOBAL SUSTAINABLE VALUE \"A\" (USD) ACC","LU1429558221.USD":"Natixis Loomis Sayles US Growth Equity RA USD","LU2357305700.SGD":"Allianz Global Artificial Intelligence ET H2-SGD","LU0053666078.USD":"摩根大通基金-美国股票A（离岸）美元","LU1435385759.SGD":"Natixis Loomis Sayles US Growth Equity RA SGD-H","LU1551013342.USD":"Allianz Income and Growth Cl AMg2 DIS USD","LU0082616367.USD":"摩根大通美国科技A（dist）","LU0719512351.SGD":"JPMorgan Funds - US Technology A (acc) SGD","LU0056508442.USD":"贝莱德世界科技基金A2","BK4550":"红杉资本持仓","BK4588":"碎股","LU0964807845.USD":"ALLIANZ INCOME & GROWTH \"A\" (USD) INC","IE00B1XK9C88.USD":"PINEBRIDGE US LARGE CAP RESEARCH ENHANCED \"A\" (USD) ACC","IE00BJLML261.HKD":"HSBC GLOBAL EQUITY INDEX \"HCH\" (HKD) ACC","BK4574":"无人驾驶","LU1914381329.SGD":"Allianz Best Styles Global Equity Cl ET Acc H2-SGD"},"source_url":"https://www.bnnbloomberg.ca/investing/commodities/2024/11/10/hedge-funds-shorting-tesla-just-lost-more-than-5-billion/","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2482294578","content_text":"(Bloomberg) -- Since Donald Trump’s election win, the hedge funds clinging on to bets against Tesla Inc. have lost billions of dollars, as they feel the fallout of the special relationship between the president-elect and Elon Musk.Hedge funds that had short positions against Tesla between election day and Friday’s close took an on-paper hit of at least $5.2 billion, according to Bloomberg calculations based on data compiled by S3 Partners. They were among a shrinking group caught out, as many of their peers unwound bets against Tesla over the past four months, according to separate data provided by Hazeltree tracking the positions of more than 500 hedge funds. That adjustment of positions coincided with Musk’s endorsement of Trump on July 13.The Tesla chief executive officer has emerged as Trump’s biggest billionaire fan. Musk has used his position as the world’s richest person to turbocharge Trump’s campaign, making him one of the biggest donors of the 2024 election. Throwing his lot in with the president-elect now lines Musk up for a position of political influence, as Trump makes clear he’s planning to reward loyalists.Per Lekander, CEO of hedge fund manager Clean Energy Transition, says he had “a small short in Tesla heading into the election.” He’d managed to whittle the position down “quite a lot,” meaning his losses ended up being “pretty small.”“But we have lost some money,” he said.Since the Nov. 5 election, Tesla shares have gained close to 30%, representing well over $200 billion in additional market value. Against that backdrop, hedge funds that had previously built short bets against the company have since rushed to reverse course.As of Nov. 6, only 7% of hedge funds were net short Tesla, down from 17% in early July, according to weekly data provided by Hazeltree. That said, only 8% are net long the stock.Tesla has proved a dangerous stock to short, even as the rest of the EV industry struggles with headwinds spanning trade tensions, flagging consumer demand and increasing competition. In July, almost one-fifth of hedge funds tracked by Hazeltree had built bets against Tesla, only to be badly wrong-footed after the company unveiled sales figures that triggered a steep rally.The wider EV sector, meanwhile, has lost more than 12% this year, based on the performance of the KraneShares Electric Vehicles and Future Mobility Index ETF. That follows a roughly 9% decline in 2023. By contrast, Tesla is up roughly 30% in 2024, after more than doubling its value last year.Tesla’s performance also stands out in contrast to other stocks in the green sector. As markets digested the news of Trump’s victory, renewables stocks spanning wind to solar started to tank, amid fears Trump will live up to his promise to slash clean-energy incentives. Lekander says that in a little over a year from now, he expects even Tesla will feel the sting of Trump’s anti-climate policies.Notwithstanding the connection between the president-elect and Musk, “Trump’s win is very negative for Tesla as an auto company,” Lekander said. In about 12 to 18 months, the Trump administration will “eliminate a lot of the subsidies which Tesla really has been winning on.”Musk has lobbied for a role in Trump’s administration that would allow him to cut what he characterizes as government bureaucracy and waste. Trump quickly latched onto the idea, publicly playing with the notion of a job as “Secretary of Cost Cutting” for the Tesla CEO.Musk’s “position of influence now is sort of a bridge between, arguably, the tech community and Washington,” said Edward Lees, portfolio manager at BNP Paribas Asset Management. Lees says he’s “held Tesla at various points,” without elaborating on current positions.Musk, who publicly threw his support behind Trump after the then-presidential candidate survived an assassination attempt in July, has seen his own fortune soar in connection with the election outcome. In the days following the election, Tesla’s stock-price surge added $50 billion to his net worth, according to the Bloomberg Billionaires Index. That’s after Musk, who oversees an empire of six companies including X and Space X, spent more than $130 million on Trump and down-ballot Republicans in competitive House races.Lekander says he reckons that the Trump effect accounts for roughly a third of Tesla’s current share price of more than $300. “So now Tesla’s stock is more of a punting exercise on how much can Trump help Elon,” he said.","news_type":1},"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"}],"isCommentEnd":false,"newsSizeData":{"likeSize":10,"commentSize":3,"repostSize":4,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2482294578"}