Tesla short-seller Rob Majteles says he was ‘wrong early,’ but markets are due an ‘extraordinary reassessment’

• Renowned market bear Rob Majteles says he was “wrong early” when he shorted Tesla, but says he doesn’t believe in the company, or its $600 billion valuation.
• Majteles is betting on a broad-based reassessment of the equity markets, which have hit record highs this month, leaving valuations looking pricey, despite a grim economic backdrop.
• “I might be the only person out there with S&P puts,” Majteles said.

Tesla has always had its fair share of naysayers, but few more so than Rob Majteles, notorious bear and founder of Treehouse Capital.

Majteles, known for his transparency and candor, tweeted this in 2019: “Call me when they file for bankruptcy. Until then, it’s just a wearisome and tawdry company.”

However, with Tesla dominating headlines this year, its shares up 665.35% and its inclusion this month in the S&P 500, the company has undeniably had a good run, at least from the perspective of its investors.