April 26, 2019 / 4:11 AM / 3 months ago

Citron's Left says he is no longer long or short on Tesla

FILE PHOTO: A Tesla logo is seen at a groundbreaking ceremony of Tesla Shanghai Gigafactory in Shanghai, China January 7, 2019. REUTERS/Aly Song/File Photo

(Reuters) - Citron Research Founder Andrew Left is no longer long or short on Tesla Inc, he said in an emailed statement on Thursday.

Left is disappointed with the way the company is communicating with shareholders, and that possibly Tesla CEO Elon Musk has too much on his plate, he said.

“I do not believe the company is insolvent although I do believe they need to raise money,” Left said, adding that there will be a better time to buy the stock.

In October, short-seller Citron Research, which had been a long-time critic of Tesla said it had a change of heart and was betting the electric-auto producer’s stock will rise and return to $320.

Reporting by Ishita Chigilli Palli in Bengaluru; editing by Gopakumar Warrier

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