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Fund manager explains why he’s still short Tesla, Ark ETF and Facebook

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The shell of the future battery factory on the Tesla Gigafactory construction site east of Berlin is very busy.

Patrick Pleul | picture alliance | Getty Images

David Neuhauser, chief investment officer at Chicago-based hedge fund Livermore Partners, has defended his short position in Tesla, Facebook and Cathie Wood’s Ark Innovation ETF, arguing that all could be vulnerable in the event of a market downturn.

As of Wednesday’s close, Tesla is up more than 54% in 2021 while Facebook, which recently rebranded as Meta, has climbed almost 25%. The Ark Innovation ETF is down 6.24% year-to-date and famed “The Big Short” investor Michael Burry recently exited short positions on both Tesla and…



Source cnbc.com

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