tesla short jim chanos predicts the fall of tesla, crypto, and the s&p 500

Jim Chanos, head of Chanos & Company and the founder of Kynikos Associates, has predicted the fall of Tesla profit margins, the entire cryptocurrency market, and the economy generally in a recent interview.

Jim Chanos has been interviewed by Markets Insider, where he made some bold predictions regarding Tesla, crypto, and the economy generally. Mr. Chanos, a notable shorter of Tesla, emphasized a possible decline in Tesla’s profit margins, the collapse of the cryptocurrency market, and up to a 55% collapse of the S&P.

Mr. Chanos’ interview is riddled with predictions, but the most notable has to be his predictions regarding Tesla. Foremost, the fund manager claimed that Tesla’s current profit margins, which are above the industry average, will fall to meet the rest of the industry. Mr. Chanos also argued that Tesla is reaching the limits of demand for luxury vehicles, a market he categorized as “niche.”

Mr. Chanos’ other notable criticism was pointed towards Elon Musk, the fund manager claiming that not only did the new Twitter CEO pay far too much for the social media company, but that Mr. Musk would be distracted by the new project. It should be noted that Mr. Musk has publicly announced that he will find a suitable replacement to lead Twitter in the near future.

More numerous claims were leveled towards cryptocurrencies and the crypto market. These claims come in the wake of the collapse of a significant crypto exchange, FTX. The fund manager compared crypto to fraud that was only successfully running rampant during the bull market seen over the past ten years. Overall, his outlook for the crypto market was unsurprisingly grim, arguing that the market would be “taken out to the woodshed and disposed of.”

To conclude his statements, Mr. Chanos focused on ride-hailing and food delivery apps such as Uber, Uber Eats, DoorDash, and Lyft. These companies, he claimed, will also face a downfall in the coming year(s) as their profit issues continue.

Mr. Chanos earned credibility several years ago after correctly predicting the fall of the energy company Enron. Since then, he has regularly predicted the demise of countless other companies.

Regarding his most recent claims, it will quickly become apparent if Mr. Chanos’ predictions should be taken seriously. But it should be noted that Mr. Chanos is highly invested in shorting positions he addressed, which could influence his positions regarding the market, individual stocks, and crypto. The market’s future remains very much in the air as inflationary issues continue, yet the job market remains strong.

William is invested in Tesla and other positions that fall under the S&P 500 but does not own crypto or shares within any crypto exchanges.

What do you think of the article? Do you have any comments, questions, or concerns? Shoot me an email at william@teslarati.com. You can also reach me on Twitter @WilliamWritin. If you have news tips, email us at tips@teslarati.com!

Keyword: Tesla short Jim Chanos predicts the fall of Tesla, Crypto, and the S&P 500

CAR'S NEWS RELATED

BMW chooses Pirelli’s EV-geared P Zero tire for i4 M50’s high-performance powertrain

BMW and Pirelli will outfit the German automaker’s i4 M50 all-electric vehicle with the Italian tyre manufacturer’s P Zero Elect rubber, which is geared for high-performance electric powertrains. Putting that perfect set of fresh rubber tires on your favorite car doesn’t just make it handle like it’s on rails ...

View more: BMW chooses Pirelli’s EV-geared P Zero tire for i4 M50’s high-performance powertrain

Tesla stock climbs on tax credit inclusion, continuing stratospheric rise in 2023

Tesla stock (NASDAQ: TSLA) continued to climb on Friday following news that Model Y vehicles would completely qualify for electric vehicle tax credits. The stock has risen over 77 percent so far this year after a broad market downturn that widely hurt the tech and automotive sectors in 2022. Tesla ...

View more: Tesla stock climbs on tax credit inclusion, continuing stratospheric rise in 2023

Tesla Cybertruck's Bed Capacity Shown In Recent Spy Shots

As Tesla fans snap photos and videos of Cybertruck prototypes, one version has a bunch of off-road tires in the bed.

View more: Tesla Cybertruck's Bed Capacity Shown In Recent Spy Shots

Tesla Model Y gains full access to $7,500 EV tax credit with new $80,000 price limit

Tesla Model Y, which is undoubtedly the most important EV this year, has gained full access to the $7,500 federal tax credit with a new $80,000 price limit. With the new year, the US Treasury released the full list of electric vehicles eligible for the new $7,500 tax credit. At the ...

View more: Tesla Model Y gains full access to $7,500 EV tax credit with new $80,000 price limit

Tesla Model 3 Refresh "Project Highland" Out Testing Under Wraps

Tesla doesn't typically hide its models when they're out testing, so perhaps there's something special about the new Model 3.

View more: Tesla Model 3 Refresh "Project Highland" Out Testing Under Wraps

Ford is in ‘deep development’ of its next-generation EV pickup truck

Ford is in “deep development” of its next-generation electric vehicles, including a new, full-size EV pickup that will complement the automaker’s already-successful F-150 Lightning. Ford has been working on several new developments for its “Model e” division dedicated toward EVs in hopes of creating an industry-leading platform. One of ...

View more: Ford is in ‘deep development’ of its next-generation EV pickup truck

Tesla Model Y’s complete lineup now qualifies for EV tax credits through Inflation Reduction Act

Tesla’s complete lineup of Model Y trim levels now qualifies for electric vehicle tax credits through the Inflation Reduction Act, as the Internal Revenue Service (IRS) has increased the applicable MSRP limit to $80,000 across each of the all-electric crossover’s configurations. In December, the IRS released a list of vehicles ...

View more: Tesla Model Y’s complete lineup now qualifies for EV tax credits through Inflation Reduction Act

U.S. Treasury makes more Tesla, Ford, GM EVs eligible for tax credits

Companies Tesla Inc General Motors Co Volkswagen AG Ford Motor Co WASHINGTON, Feb 3 (Reuters) – The U.S. Treasury Department said Friday it will make more Tesla (TSLA.O), Ford Motor (F.N), General Motors (GM.N) and Volkswagen (VOWG_p.DE) electric vehicles eligible for up to $7,500 tax credits after it revised ...

View more: U.S. Treasury makes more Tesla, Ford, GM EVs eligible for tax credits

Tesla Co-Founder JB Straubel Offers Insight On Battery Recycling

Tesla Model Y Long Range Delivery Estimate Pushed To March-May 2023

Tesla Cybertruck alpha prototype shows off its bed’s space by holding multiple 35″ tires

Tesla’s “Project Highland” Model 3 photos hint at upcoming updates worth keeping secret

Hyundai Ioniq 6 Beats Tesla Model 3 in EPA Range

BYD Atto 3 charges up at a Tesla Supercharger in Australia

First refreshed Tesla Model S spotted in Australia, but wait for deliveries continues

More pain ahead for legacy auto as Tesla slashes battery investment costs in half

Tesla Model 3 now third highest selling car, behind only Ranger and Hilux utes

Tesla Model 3 was Australia's top-selling passenger car in January

Tesla’s Elon Musk gives Cybertruck seal of approval after production beta review

Ford reports Q4 earnings: EPS miss, revenue beat, strong cash flow from Rivian stock sale

OTHER CAR NEWS

; Kênh kiến thức kỹ năng, phát triển bản thân, hướng nghiệp, blog nhân sự