April 12, 2019 / 2:46 PM / in 12 days

Einhorn's Greenlight says Tesla is "on the brink" -client letter

NEW YORK, April 12 (Reuters) - David Einhorn’s Greenlight Capital renewed criticism of Elon Musk and his Tesla Inc , saying the car maker again appeared to be on the “brink” of failure, according to a letter sent to clients of the hedge fund on Friday.

The letter cited a lack of demand, “desperate” price cuts, layoffs and more.

“We believe that right here, right now, the company appears to again be on the brink,” the letter said. Greenlight is short Tesla stock, recently a profitable bet.

Greenlight said its funds gained 11 percent over the first three months of 2019, slightly below the gain of the S&P 500 Index.

Reporting by Lawrence Delevingne and Svea Herbst Editing by Chizu Nomiyama

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