I didn't say Elon and this guy were similarly shady.
I said Elon has been a huge voice in pushing and promoting a narrative that short sellers are evil, and that then allows frauds like Nikola and Wirecard to flourish.
And I stand by that statement. In what way am I wrong?
https://arstechnica.com/cars/2018/05/nikola-motors-sues-tesl...
Funny how the possibility of a lying short seller gets all their consternation while lying CEOs do not.
So did Enron. That doesn't mean there's no fraud to be found.
> Before its bankruptcy on December 3, 2001, Enron employed approximately 29,000 staff and was a major electricity, natural gas, communications and pulp and paper company, with claimed revenues of nearly $101 billion during 2000.
Much of that apparent revenue was fraudulent, but not all of it. Enron really was an energy company, but was also engaging in fraud.
Thank Elon.
His war on shorts has created a narrative that's gotten eaten up in the tech sector. Heck, you can see it in the comments on this post.
We poor tech companies are just the victims of these big, bad, evil short sellers. If you'd just leave us alone, man, so much disruption! We just need a few more billions and, we swear, we'll be profitable in no time.
Edit: Apparently people are getting very confused by the point I'm making here.
I'm not saying Telsa and Nikola are equally fraudulent.
I'm saying Elon Musk is responsible for pushing and promoting a narrative to de-legitimize short sellers, and in doing so, has undermined an important function in the markets that helps prevent companies like Nikola and Wirecard from succeeding in defrauding the public.