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Elon Musk responds to anti-Tesla ETF closing its doorways after heavy losses

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Tesla CEO Elon Musk lately shared a response to information of the upcoming closure of a fund that was, amongst different issues, brief TSLA. The fund, which was additionally a vocal critic of Tesla bulls comparable to ARK Make investments CIO Cathie Wooden, is closing its doorways amid notable losses. 

In an announcement earlier this week, the Board of Trustees of Tidal ETF Belief famous that the Noble Absolute Return ETF (NOPE) could be closing its operation. In a press launch, Tidal famous that liquidating and shutting the fund could be in the perfect curiosity of its shareholders. 

Elon Musk, for his half, noticed on X, his social media platform that was previously generally known as Twitter, that TSLA shorts appear to be gluttons for punishment. Musk’s feedback appear fairly justified contemplating that Tesla shorts have incurred heavy losses through the years.

“Tesla shorts certain are gluttons for punishment! I imply, what number of occasions do they wish to do that!?” Musk wrote in a reply on Twitter. 

The fund, which was launched simply final yr, could be chucking up the sponge with lower than $19 million in property and a notable 68% decline because the begin of 2023. The fund really confirmed some promise final yr, however this 2023, it has been battered by a bullish market and the efficiency of shares like Tesla. 

George Noble, the fund’s supervisor, went lengthy oil and fuel shares with the Noble Absolute Return ETF. He additionally shorted Tesla, Coinbase, DraftKings, Roku, and ARK Innovation ETF, which is managed by TSLA bull Cathie Wooden. With the S&P 500 up greater than 20% by way of July and shares like TSLA recovering strongly, it was no shock that the Noble Absolute Return ETF incurred heavy losses. 

Don’t hesitate to contact us with information ideas. Simply ship a message to simon@teslarati.com to provide us a heads-up. 

Elon Musk responds to anti-Tesla ETF closing its doorways after heavy losses








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