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Tesla is Next for Former IMF Economist Who Shorted Bitcoin at $20,000

Joseph Young
Updated
Tesla is the stock to short in 2019, according to a former IMF economist. | Source: Shutterstock
Tesla is the stock to short in 2019, according to a former IMF economist. | Source: Shutterstock

Mark Dow, a former International Monetary Fund (IMF) economist who shorted Bitcoin from $20,000 to $3,500, has said shorting Tesla might be the trophy trade for 2019.

“Shorting Bitcoin was the trophy trade of 2018. Shorting Tesla might be it for 2019,” said Dow.

The gloomy forecast of Tesla from Dow comes during a period in which strategists remain concerned about the short-term future of the company and its drastic change in strategy.

1-Month Performance of Tesla (Source: Yahoo Finance)

Investment Firms are Pulling Out of Tesla Positions

On March 1, following the release of Tesla’s statement on its plans to switch all sales online and close down many of its galleries and stores, Lake Ave Financial CEO Alex Chalekian said that the company sold its position in Tesla for advisory clients.

Read the full story on CCN.com.