Lakewood Capital's short position in Tesla Motors Inc (NASDAQ:TSLA) was one of its two biggest losing positions in 2013. However, the fund's fourth quarter letter, which was obtained by Hedge Fund Alpha, shows that it remains convinced that it's right about Tesla.
Lakewood sees “considerable downside” to Tesla
In the letter, Lakewood said it lost 286 basis points on Tesla Motors Inc (NASDAQ:TSLA). The firm said because of its "fully-diluted market capitalization back to a remarkable $25 billion," they see "considerable downside" in the automaker's stock.
Interestingly enough, another Elon Musk stock—SolarCity Corp (NASDAQ:SCTY)—was the firm's other big losing position in 2013.
Lakewood frustrated by Tesla
Tesla Motors Inc (NASDAQ:TSLA) gained significantly on Monday because China extended its subsidy program for electric vehicles, and...
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