One of the most famous short sellers of Tesla Inc (NASDAQ: TSLA) is sharing new criticism of what could be a new growth area for the electric vehicle giant.
What Happened: Tesla has dominated the electric vehicle market for year and also engaged in new lines of potential growth for the business, including solar roofs, clean energy solutions and energy storage products.
Short seller Jim Chanos, who posts on Twitter as @WallStCynic, is throwing caution to Tesla fans getting overly excited about the future of Tesla Megapacks, the company’s energy storage product.
“It’s come to my attention that the $TSLA faithful are beginning a new bull narrative (FSD and robots are so 2021-22), based on ‘Megapack’ utility-scale battery storage,” Chanos tweeted Wednesday while sharing an article from Torque News.
The article highlights “the astonishing economics of the Tesla Megapack” and draws on the economics of the clean energy initiative and potential of gross margins of 50%.
“The $TSLA bulls believe that demand for its Megapacks is 40 GW, …
