Tesla - The return of an investor
TSLA
Short seller have been targeting Tesla in recent months.
Approximately 39 million shares are currently short. But at least one believes in Tesla.
Investors legend George Soros' portfolio has some surprising changes. It is not just the return of a company that the speculator had previously thrown out of the depot that causes a stir.
Soros relies on Tesla
Although the electric carmaker Tesla has been anything but round in recent months, investment legend George Soros seems to have confidence in the business development of the Musk group. For the 87-year-old has covered his company Soros Fund Management with Tesla convertible bonds worth $ 35 million. With this asset class, Soros can benefit from the rising Tesla share price, but at the same time avoids the risk of direct investment. The papers maturing in March next year can be converted into Tesla shares.
Soros' entry is good news for Tesla boss Elon Musk, as Tesla recently reported a record loss and many observers fear the company will have to tap into the financial market in the near future, given its fragile financial position. So far Musk has always denied such speculation.
Passion for Tech becomes clear
As has been evident in the past, George Soros - unlike his star investor Warren Buffett - has a penchant for tech stocks. His positions at Netflix and Google's parent Alphabet continued to expand Soros Fund Management during the past quarter. And another Techwert celebrated the return to Soros' depot: After the investor had completely separated from his participation in the online giant Amazon end of last year, he now rose again: 51,200 shares he acquired in the last quarter of the year. This also distinguishes Soros from Buffett, who mourns the missed investment opportunity at Amazon afterwards, but obviously does not even consider starting at the present time.
In addition to Tesla convertibles, the REIT and tech giants, Soros also stocked up with stocks of bank giants Bank of America and JPMorgan in the first quarter.