Foreign media reported on Friday (19th) that the shorting agency Deer Park Road Management aggressively shorted Tesla in the second quarter, and investment chief Scott Burg may be the first to use billions of dollars in options to short Tesla’s distressed bonds fund manager.
Deer Park’s regulatory filings this week show that Burg aggressively shorted Tesla in the second quarter, buying nearly 4.8 million put options worth regarding $3.2 billion at the end of June. On the surface, this looks like a huge bet, but Deer Park did not disclose the strike price or expiration date of the put option purchased.
Scott Burg made a prediction in a 2020 article: “Bet Tesla will get squashed like a bug.”
Burg, who disclosed to Archyde.com on Friday that Tesla put options make up 0.1% of his portfolio, is not too much, without elaborating on the details, but said the short position has been closed at a profit.
Tesla (Tesla (TSLA-US) along with other tech stocks lower in the second quarter, with Tesla down nearly 38% from the end of March to the end of June, whilethat fingerIt fell 22% over the same period. Tesla slipped 2.05% to $890.00 a share on Friday.
