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Jim Chanos says he's still betting against Elon Musk's Tesla: It's a 'cult stock'

  • Famed short-seller Jim Chanos told CNBC on Tuesday he is still short on Tesla.
  • "We've been pretty accurate on most of the things we've said about the company — not the stock, certainly," he said.

Famed short-seller Jim Chanos told CNBC on Tuesday he's still betting against Tesla.

"We've been pretty accurate on most of the things we've said about the company — not the stock, certainly," said the founder and managing partner of Kynikos Associates.

He spoke on "Fast Money Halftime Report" from New York City at the 2017 Delivering Alpha conference — presented by CNBC and Institutional Investor.

Last year, Chanos voiced questions about the profitability of Tesla's business, and called the deal between the electric automaker and solar solutions firm SolarCity a "shameful example of corporate governance at its worst."

Tesla co-founder and chief Elon Musk had been chairman of SolarCity when it was a public company. SolarCity was founded by Musk's cousins.

Chanos said Tuesday Tesla is a good example of a cult stock "whereby the market will look at it anyway it wants to, in a glass-half-full kind of mode."

Shares of Tesla are up more than 70 percent so far this year.

Delivering Alpha

2017 Advisory Board

Complete panel sessions | Delivering Alpha 2017

Previous Years

  • CNBC and Institutional Investor hosted the 7th Annual Delivering Alpha Conference on September 12, 2017.

  • Delivering Alpha 2017 stage, signage

    Meet the 2017 advisory board of Delivering Alpha, which takes place on September 12, 2017 at The Pierre in New York City.

  • The stage at Delivering Alpha 2016 in New York on Sept. 13, 2016.

    CNBC and Institutional Investor hosted the 6th Annual Delivering Alpha Conference on September 13, 2016.

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CNBC and Institutional Investor are pleased to host the 8th Annual Delivering Alpha Conference in New York City on July 18, 2018. Please take note of the new month for 2018. Delivering Alpha continues to be an incomparable who’s who of the investor community with leading asset manager and institutional investors offering candid views along with illustrious political and economic commentators appearing in short segments moderated by CNBC talent and II editors.

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