Investor Martin Shkreli, also known as the “Pharma Bro,” has once again criticized investors who are bearish on Tesla Inc. He compared their bets against the electric vehicle giant to several common psychiatric delusions.
Background on TSLAQ Community
The TSLAQ community is an international group of anonymous short-sellers who believe Tesla is a fraudulent company that will eventually crash. Shkreli stated that this group primarily consists of “a bunch of failed Wall Streeters who obviously lost their mind.” As a short-seller himself, he claims to be able to “explain this phenomenon through psychiatry.”
Shkreli’s Take on Tesla’s Success
Shkreli highlights Tesla’s monumental rise, from $15 million in revenue to $98 billion in the last 16 years, representing a compounded annual growth rate of 67%. He also mentioned that “Tesla sells millions of vehicles annually,” showing that it is clearly not a “fraud.”
Mental Health Problems and Delusions
Shkreli noted that “mental health problems have been increasing globally” and that there are several “common, specific delusions” that would surprise people. He listed several such delusions in his post and concluded that patients with such delusions will “sadly often require lifelong institutionalization.”
Elon Musk’s Warning to Short-Sellers
Tesla CEO Elon Musk has also come out against short-sellers betting against the company, warning them that “If they don’t exit their short position before Tesla reaches autonomy at scale, they will be obliterated.”
Current Market Performance
Shares of Tesla were down 5.06% on Friday, closing at $413.49, but are currently up 1.42% in overnight trade. According to stock rankings, the stock scores high on Momentum and Growth, with a favorable price trend in the short, medium, and long terms.
Conclusion
Shkreli, who is known for shorting individual stocks and entire sectors, surprised his followers a week ago with a rare bullish take on Tesla, speaking against the people betting against the company. He stated, “I don’t understand ‘$TSLAQ.’ Guy is the richest man in the world. He won. It’s over. He’s more successful with his 2nd, 3rd, and 4th largest companies than you will ever be.”