Jim Chanos has made $ 100 million through short positions in Wirecard in a number of his funds, according to sources quoted by the Financial Times today.
He is perhaps best known for his short position at Tesla, which took the position last year and then increased it after the FT reported on subsequent reports for the company, where the media reported that Wirecard’s profits may have been a fraud last year. .
The failure of Wirecard is seen as a significant victory for short sellers and the other few skeptics of the financial media who remain in the industry. Critical questions about the company were raised before the truth finally caught up with the company.
Reading these comments about Wirecard, we just can’t help but wonder if Tesla will ever suffer such a fate. In the end, Chanos also said it remained short at Tesla, although the company differed from Wirecard. Tesla “derives its results through aggressive accounting and other means,” Chanos told FT.
Junior Trader Damyan Dimitrov