einhorn did concede that it could have been worse.e says trades in the quarter saved the firm about 5% of capital, scott. >> leslie, thank you leslie picker. >>> final trades and your questions next on "the halftime report." >>> welcome back to "the halftime report. we are taking your questions as always kyle in atlanta asks about disney how do you feel about it going into earnings. pete, this is you. you used to own it. >> yep, still do i own the stock itself and i'm holding onto it into earnings. i think the whole thing with the sports gambling and winning eventually without having to go back and forth too many different times, but some of those fox assets, i think because of that this is a really interesting play going forward as time goes by, obviously some of that bam tech, that's going to be something that's going to i think do very, very well and i think they'll address that in the earnings call. >>> alfredo tweets nvidia has been consolidating since last january. will it move higher in the remaining part of the year josh brown

hedge fund manager david einhorn sold shares of apple in the second quarter, before they are crossedhat $1 trillion threshold. einhorn, who runs greenlight capital, trimmed his stake in apple by 486,000 shares, reducing his position to about $26 million, this according to regulatory filings. now, romaine, we are expecting more of these 13f filings in the coming days. do you think we will see more of the same from other big tech hedge funds? romaine: well, it'll be interesting. i did look earlier today. you did get a couple other hedge funds like piedmont, which did have a significant reduction in holdings. the green light one was a little interesting, especially considering einhorn is considered a value investor. it is not clear why he got out of this position, but he has really been on the wrong sides of a lot of trades this year, including on tesla and on gm. as we get more of these filings, we have to keep in mind that the shares did have a pretty good run prior to the end of the second quarter. so it wouldn't be surprising to see some hedge funds sort of cash in their chips. you

tictoc einhorn, tragic. send him a box of short shorts to comfort him through this difficult time. as always, punchy. max: this is the elon that investors want to see, because he is a happy warrior. he is punchy, but he is rolling with it. in that report, einhorn was complaining about the quality of his car and saying he was going to cancel his lease. the fact that musk is taking it is a joke, that will be seen as a good sign from investors. emily: musk has opened the call with a number of other tesla executives thanking them for their mind blowing performance over the last month. he confirms they have been doing 7000 total cars weekly into july. obviously, the numbers are moving in the right direction. sustainable that is without that tent? tasha: i think tesla is working hard on that sustainability. had 5000hey said they multiple times or people are looking for that to be continuous. to take a step back, there is a lot of undue focus on the production numbers. people are missing this long-term story that t

we'll send einhorn a box of short shorts to comfort him through this difficult time.orting its own numbers after the market closes today, guys what is that. >> that's my ring tone >> bone head quets are not cool. >> it was fantastic, that conference call. >> you wanted to hear it every time you got a phone call. >> it's strange when i am a out in public. continue calling mcc so she can get this as her ring tone as quickly as possible. >> is money leaving einhorn's fund >> oh, yeah. he point out the redemptions in the letter saying that i understand why you are redeeming, however he does believe that his portfolio as it is currently constructed is poised to profit in the long run. >> you are wrong until you are right. maybe he will be right. >> timing is everything in the hedge fund world. >> >>> meantime, another conference call from tesla after the bell tonight maybe a new ring tone. >>> more signs of weak innocence the housing market let's get to diana olick in washington with the details. >>> that's right the jump in the ten year treasury yield is not good for home

david einhorn, he's been a source of tweets from elon musk.inhorn tweeted back i want to thank elon musk for the shorts he's a man of his word they did come with some manufacturing defects. you take a look at one year chart of tesla shares. remember that we have also not heard anything from the sec or from tesla regarding inquiries that the sec is making or has made regarding the tweet on tuesday or other past tweets from elon muvg we still have more questions than answers >>' lone musk is in production hell but he's sending tweets and sending short shorts to david einhorn. what's the impact on investors you think of this company where elon musk himself has become just the key guy, the key ingredient here to the valuation of this company. >> reporter: anybody who is actively investing in tesla and i know some friends who own tesla shares and others who have invested in this company you go into this fully aware you're getting more than just a ceo focused on his company you'll get somebody who will weigh in on other issues outside of tesla, outs

david einhorn shorting tesla, elon musk not so happy about it and in fact responded to a report fromloomberg's tictoc saying "tragic, will send einhorn a box of short shorts to comfort him through this difficult time." as always, punchy. max: this is the elon investors want to see, because like i said, the happy warrior, he is punchy, but at least he is rolling with it. in that report, einhorn was complaining about the quality of his car and saying he would cancel his lease. so the fact that musk is sort of taking it as a joke will probably be seen as a good sign from investors. emily: musk has opened the call with executives thanking them for their "mind- blowing performance" over the last month and confirm they have been doing 7000 total cars weekly into july. obviously, the numbers are moving in the right direction. do you think that it is sustainable, even without the tent and the human production line outside? tasha: i think tesla is working hard on that sustainability aspect of it. they said they hit 5000 multiple times. of course, people are looking for that to be continuous,

#tesla it was apparel maker chubbies that sent 50 short shorts to david einhorn.k tweeted at the short seller saying he had sent him a box of short shorts while these tweets appeared to be in jest, musk's comment about short sellers could get him into trouble with short sellers because it is evidence in his attempt to squeeze them. they're looking into the truthfulness of his comments particularly whether the funding has actually been secured. that scrutiny will likely continue into next week as it does not appear to have concluded quickly. scott? >> thank you so much leslie picker. our next guest says elon musk is in, quote, deep yogurt what does it mean for tesla? harvey pitts, the former sec chairman and ceo of halorama partners >> good to be here. >> funding secured and no details yet. how much of a problem is that? >> i think it's a serious problem because this would be the largest private transaction in the history of the world. he needs to demonstrate that at the time he tweeted he had a legally enforceable commitment to fund $420 a share or $70-some-odd bi

that is a big loss for david einhorn.'m sure his investors are less than pleased we'll see you in a few minutes >>> your other big stock stories have to do with mining, food and music. rio tinto's profit rose 12% in the first half of the year that did miss forecasts. the company adding $1 billion t its stock buyback plan and raising its dividend by 15%. that stock down 4% right now >>> cheesecake factory disappointing investors. the second quarter earnings missing forecasts, but not because people didn't like the food its higher health insurance and legal costs offset a jump in same-store sales >>> pandora shares are actually on the rise today. music streaming service posting a smaller second quarter loss than many expected it added more paid subscribers revenue jumped 65% the stock is up 12.6%. >>> all right. up next, a giant oil slick, if you will crude just did something it has not done in two years. we'll tell you what that is ahead. >>> and it's mystery chart time. this is the single best performing stock in any majo

because in that report, einhorn was complaining about the quality of his car and saying he was goingo cancel his lease. so the fact that musk is sort of taking it as a joke will probably be seen as a good sign from investors. emily: musk has opened the call with a number of other tesla executives thanking them for their "mind-blowing performance" over the last month and confirms that they have been doing 7000 total cars weekly into july. tasha, obviously, the numbers are moving in the right direction. do you think that it is sustainable, even without that tent and the human production line outside? tasha: you know, i think tesla is really working hard on that sustainability aspect of it. they said they hit 5000 multiple times. of course, people are looking for that to be continuous, but you know, to take a step back, i think there is a lot of undue focus on the production numbers. people are really missing this long-term story that tesla is producing this unbelievable product that actually improves after you put it on the road. i mean, no other automaker is doing that right now. thes

ashley: however, einhorn has lost a lot of money on tesla. stock is up 18% on the year, it's killing einhorn. stuart: because he's a short. ashley: he goes the other way. stuart: see how that plays out. let me get to that hard line president trump is taking on trade with china. as we reported, instead of a 10% tariff on $200 billion worth of chinese goods, it could be 25%. here's the president on that from last night. roll it. >> we've taken the toughest ever actions in response to china's abusive trade practices, and i have tremendous respect for president xi of china. but this has been too many years of abuse. $500 billion a year. stuart: come on in, brad blakeman, former deputy assistant to bush 43. i don't think the president has much support in the business community for his hard line with china. the basic, the troops, they loved it. but i don't think business likes it. >> well, they should like it because this is a, this is a long-term project with china. they've been taking us to the cleaners for years, and president trump says $500 bi

in a letter to clients obtained by cnbc, einhorn had a lot to say.een light's performance has been, quote, far worse than we could have imagined. the fund is now down more than 18% this year. in that letter, green light capital also took a shot at the firm's second biggest loser last quarter. tesla. saying einhorn was happy the lease on his model s had ended they cited growing problems with the touch screen and power windows. elon musk not one to just let that go. responded tweeting, tragic we'll send einhorn a box of short shorts to comfort him during this difficult time of course talking about einhorn's short positions in other places tesla will have results after the bell everyone interested to see what musk has to say given some of the choice comments he had for the analysts last conference call phil lebeau is in chicago with a little bit of detail about what we might expect. phil >> it'll be a fun afternoon for me and for everybody else who's listening in on this call. when tesla reports its second quarter earnings after the bell, don't get too

elon musk took to twitter to troll david einhorn.n letter, he admitted his firms bet against tesla. was its second biggest loser musk responded quote, trangicnl einhorn short having a serious impact green light is down more than 5% for the quarter. more than 18% for the year of course all of this as tesla gets set to report tonight after the bell in what has been a contentious fews for its cofounder and ceo. everybody's going to be watching cash burn and whether or not they can maintain some of these production targets >> and reservations. we've had analysts who have said there have been reservation cancellations and those are outpacing down payment frs new orders of the model three. i was having a conversation with somebody who has decades of experience in vehicle manufacturing. including ev chlts one of the points they made was that the technology is constantly evolving and that evolution is accelerating so when you look at the manufacturing issues around tesla, one of the pieces that isn't discussed often is maybe this is a compan

become one of those favorite targets for shorts, including big names, such as jim chanos and david einhornill keep an eye on the stock. live from new york, this is bloomberg. ♪ shery: one of the largest cannabis producers in america lists on the canadian stock exchange this fall. we are welcome here in canada. although we are u.s.-based, today, to be on exchange, canada is our first and frankly only choice as a u.s. cannabis company. >> you have been at this for a long time. but those who are unfamiliar with acreage, just described the business model. what do you own? >> i have personally been added as a private investor since 2011 and really more formally as a holding, he structure since 2015. have morphedwe the business into a structure where we control all the operations in the united states. today, we are in 15 states, the largest geographical footprint in the country. we are known as acreage holdings. >> as this market matures, you will be a primary distributor of cannabis. >> we are striving to be a grower, processor, and distributor of cannabis in the united states. today, we work o

they've been wrong and yet he's tweeted at them, thinking david einhorn. he tweeted, well, i'll get you a short pair of shorts, that's guy's been crushed. that hedge fund has been harmed because they took the wrong way position on tesla. do you think he's just tired or skin has gotten a little thinner perhaps and rather take it private and not have to deal with the public markets? >> i don't think it's his thin is skinner, he's wasting a lot of time and energy dealing with the public markets which he doesn't have to deal with spacex. and tesla's mission is very long-term, and the stock market is very short-term thinking. and so i think he's just tired of the daily harassment that he has being a public company, and by being a private company, he can focus what's important which is growing the business and not having to make quarterly numbers to make saganuchi happy. why be a public company? what's so great? liz: tony saganaki is a tesla analyst. we can bring up also on the screen, the largest shareholders of tesla. now clearly you've got elon musk and the b

david einhorn we know has been struggling with performance.hey be performing quite strongly >> well, they're often very concentrated so it depends where they've made the big bets. if we look at what's going on right now einhorn brought retail, out of favor retailers not tjx, we owned it until just very recently. i think he's making a bet these are categories that are going to benefit from consumers spending more and omega, i think that's a reasonable bet energy stocks have not performed particularly well. this quarter they've been one of the worst performing, up for the year but we know oil prices have gone up over the last two years and the stocks haven't followed. i see that to value plays on both sides, different industries but i think those make sense for the type of investors these guys are. >> david, my question is on the big money betting on technology to the einhorn headlines reducing the twitter amount. mark cuban told us yesterday he was out of twitter do you think there's going to be a change in big owner moneyship? facebook was a p

a lot of money to obtain subscribers i note this because in the letter that irwas put out, david einhornought some of this for spinoff altice usa, but that's an ugly day as you might imagine that's just not going his way. things aren't necessarily going his way. >> a little tough time >> having a tough time as is altice europe, which by the way, has nothing to do with altice usa anymore completely separate. atus is altice here in the u.s. which is cablevision >> i recall he wanted a retraction on some of our reporting on lehman. i didn't take kindly to that what are you going to do we're still here we're still here talking. every day. >> we're still here and he's still putting up incredibly bad numbers. >>> let's talk about cigna icon expressscripts if we can the journal reporting frankly something that -- that had been around for a while and i had heard of over a week ago namely that mr. icahn built up his position at least in cigna the record date had already past when he was building this position which i believe is still less than 3 million shares though i don't have that fully confi

so far, the bears, the shorts like david einhorn have gone burned.e: i am looking at shorts right now and in they have come down off of their recent peaks, about 7% open interest shorted at the moment in tesla, but what are we expecting from the actual analysts call? this is what i am excited about, after elon musk called them boneheaded in may. do you think you will be more sensitive to analysts? that they would think would learn after his last outburst. thatare sort of hinting maybe he will handle it differently this time, but this is a guy that tweets in the same vein as donald trump, and can he exercise discipline on a call more so than he does on twitter? that remains to be seen. i'm not really sure that if somebody asks a question that he hates he will be able to sit back and do not address it in a prickly way. caroline: david welch, the detroit bureau chief. we will be waiting on tender hooks to see how that goes. thank you. now, rio tinto shares are falling today and sales from the world's second-largest miner fell short of estimates. >> the

this one was interesting considering einhorn is considered a valid -- considered a value investor.t is an sure, but he has been on the wrong side of a lot of trade this year, including tesla and gm. as we get more filings, the shares did have a pretty good run prior to the end of the second quarter. it wouldn't be surprising to see some hedge funds cash in their chips. you could have looked at this stock at the end of june and thought that was the top. the releases -- there really isn't much farther to go. it is not like they lost money on this trade. apple has been a fantastic trade for the time these funds ran it. up, tencent has suffered its first profit drop in over a decade as the chinese government cracks down on new game releases. can the tech giant recover? champion wants to build a winning team for his tech investment. we hear from the golden state warriors superstar. this is bloomberg. ♪ selina: amazon has decided to take on its video rival youtube in a bid to grab a larger slice of the advertising pie. amazon is pursuing live streaming deals with dozens of popular media

david einhorn sold shares of apple in the quarter but for -- before. romaine, we are expecting to see more of these 13 filings in the next few days. do you think we will see more of the same from other big tech hedge funds? romaine: i took a look earlier today and you got a couple other hedge funds which had a significant impact in their holdings. is not clear why the investor has gotten out of this position but he has been on the wrong trade on many companies. as we get more filings, the shares had a good run -- keep in mind the shares had the good run prior to the second quarter. it would not be surprising to see some hedge funds cash in their chips. you could have looked at this stock in said that was the top. they would have been proven wrong, but it is not like they lost money on the straight. apple was a fantastic trade for the past couple of years. emily: tim cook made it clear it is continuing to look for long-term investors. romaine bostick and mark gurman, thank you much. bloomberg is hosting the second annual players technology summit. we wi

we have prominent shorts sellers of tesla, particularly in the u.s., including david einhorn.e: i think if you are short tesla, you are probably citing several key points. one is the cache burned. n.cond -- cash bur second, they have not made a product on sustainable basis. third, you look at new german competitors. finally, there are questions around execution. on top of that, there is the valuation debate, but i think that is one where bulls and bears will never see i try. vonnie: when does tesla -- never see eye to eye. vonnie: when does tesla go back to the market? elon musk said it is never going back, but do you think it will have to? george: as things stand, it doesn't look like it has to. consider doingld something opportunistically is another question. i think a lot of investors, including bowls, with take great comfort from tesla tapping the market and building a more secure balance sheet. out, the company seems adamant they are not going to do that and keen to prove they can go it alone. caroline: we did hear in your lpa or apologycu coming from us, apologizing for

gunning over the shorts, and he goes over he can -- wherever he has less than a week and it was david einhorn with i'm going to sshd him a pair of short short look, at the end of the day how is this at all, at all in lun with reg fd, full disclosure on names. from my perspective as a ceo of a company to come out and put price targets on stocks and where an lbo may or may not happen or where they've had discussion it was a forced akd to have the shorts cover i think he's incentivized how to do it and he just rolled out his insensitive program and put high expectations on it purposely to get the street in the sort of mode where there's a potential they could hit 100 billion market cap and then $650 billion. i just think it's insane i think that the behavior and the actions by elon musk in this, it's actually probably border line, if not illegal, and it's disgusting to act like that as a ceo. >> karen >> i think, you know, the twitter release is unusual, but not unprecedented and so --? no, you're allowed. >> you're allowed by sec rules to break the news. >> what he hasn't done yet -- >> -- thro

all these stakes are as of june 30th and may have changed in the six weeks since. >> einhorn s he's likealki, h like -- >> ouch. >> he's everywhere that's bad right now. >> he's unlucky in a way >> don't stand around him. sputnik will fall on his head. sorkin, he has got -- sputnik, remember that? >> i do remember >> it was going to come down or maybe some other thing he managed to find everything that's bad >> he's famously short tesla >> he short shorts, the tweets, all of it. >> you know that elon musk's next plan is to sell sho short shorts online. >> seriously >> yeah. >> i thought that was a joke >> i don't think it's a joke >> they're back, i heard >> tesla short shorts. >> for guys? i don't know he hasn't done the candy yet >> he knows everything about tesla. >> i'm trying to think of you two in short shorts. >> yeah. not good for anybody no >> i don't like short shorts in general. >> no. >> not a fan >> the long ones look good >> yeah. >>> verizon is going to be offering customers who sign up for the new 5g internet services a free apple tv box and a subscription to the youtube

this man on your screen, green light capital's david einhorn.had to admit to investors he has lost so much money betting against tesla, he is not a believer -- although he has a tesla, so i don't quite get that. green light actually lost 18.3% in the first six months of 2018. with tesla shorts being the second biggest loser during that period, it was a wrong-way bet for the billionaire. we're. watching it very, very closely. now, let me get to china. china said that blackmail would not work, so remember yesterday at this hour we thought mnuchin was speaking with the vice chair orb -- the vice premier, rather, of china? reports are suggesting that president trump has come up with his own idea, threats on $200 billion worth of chinese goods could be getting even bigger. when i say "threat," i mean tariffs. the president initially said he would tax that amount of goods with 10% tariffs. he is now wanting to move the goalposts to 25%. again at any moment we are expecting the white house to give us what they call an announcement on the current china

commentary about his stock remember, there was, you know, what a week or so ago the bar he threw at david einhornaying i'll send you a pair of short shorts >> what's the market cap on this $60 billion. by the way there's $60 billion availab available. >> if are you going to finance it with debt, what's the debt trading at right now right? it's trading at 10%? you are going to pay $6 billion in interest. can we -- this is -- this is crazy. i can't deal with this this is making me twitch i'm normally kind of calm. >> the saudi in and of itself, if you want to call it a game changer. >> you know why the market doesn't believe this, because we're not materially higher than where we were on the saudi news. you don't have a secondary pop going on there >> the initial pop was that the saudis have taken a nearly $2 billion stake. >> the market is not looking at this tweet and saying that they think this is legitimate >> you said the s.e.c. is going to be looking at this tweet. >> oh, god, yes. >> you said, josh, the moment that the saudi news crossed, well, this takes the liquidity questions off the tabl

know this is even a agreement of keurig green mountain who went private after the very smart david einhorn dramatically less than it was selling for? hey, don't i know it i have been campioning keurig. it turns out i was part of the solution keurig got a bid from jb holdings that was 2% higher than where it had been trading. it was a short seller's worst nightmare. sure, maybe tesla does deserve to be dramatically lower maybe the market is wrong and the whole thing is a house of cards. but remember what the late, create economist john mader canes had to say about these situations the market can afford to remain irrational longer than you can remain solvent and more to the point, in the long run, we're all dead i think elon musk can keep the balls in the air longer than the shorts can stay short. he could have told the saudis that he would sell them $2 billion of stock right from the company he wanted to, right? then what. if he turned them down, it shows that tesla might be doing a heck of a lot better than the shorts think it is. who doesn't need $2 billion? elon musk didn't musk place ha

. >> does he talk about the shorts like he likes to do and troll david einhorn last night. >> i saw that. sending him a pair of shorts or -- short shorts so we only have half the information that we need i don't get it i don't get the valuation. i mean, i think the product is fantastic, but i don't get the valuation. i wouldn't have known it here, but i sure as hell wouldn't short it i know at the kid's birthday parties and i'm glad you added that you have kids and that's why you went that's important. >> i know you own the stock an it's a momentum play, and do you get the valuation? >> no. i don't think about it and nor do i think about the valuation of amazon. i thought people that were focused on the valuation were missing the idea that they're only going to get exponential growth in that name. at what point does valuation have to matter >> you can't say never >> they said never with amazon. >> that is true. that is true. >> i do think amazon is a totally different story. he wants to be a car company i don't want to slap on a car valuation on to a tesla. so i have a problem with this.

stuart: what you're looking at is, for this guy, david einhorn, switching out of big tech, which hasly successful two years at least. ashley: yeah. stuart: going into retail. we've been having retail ice age stories up the wa-z-zoo last couple years this is switch. liz: he is betting retail will turn around making a decent return to backfill his losses. >> best buy has had a tremendous turn around from the depths. he is buying it now after the rebound. that is bet they continue to go on and do bigger, better things. stuart: six months who would have thought we would be talking about the retail turnaround. >> there are still stores out there. stuart: retail is nicely higher. >>> here is what is coming up for you. millions of refugees are in turkey. the european union is paying to keep those refugees in turkey. if relations get worse if turkey sinks and continues to sink, what happens to those millions of refugees in turkey? will they flood europe again? nigel farage in the next hour. president trump predicting a red wave. martha maccallum has been all over these primaries. she is with

filings reveal the positions of einhorn and more.ses the game amid agency shakeup, china freezes approvals for the world's biggest gaming market. cfa past rates drop. david: joining us now is peggy .ollins these are always a little out of date. they are the u.s. stock bydings, long positions hedge fund managers, but it does give us a comprehensive look at where they were buying and selling in the second quarter and they may still on these holdings. certainly a lot of interest in spotify. we saw a number of hedge funds disclose holdings in that streaming music company which went public in april. has seen a 47% jump since it went public. that is on the positive side. and we are seeing a number of hedge fund managers bolt up on tech and stick with it. david: and warren buffett is staying the course. peggy: he boosted some of the stakes in the companies we have known he has had any -- for a while, including tesla. also interesting is what they ended up doing with gold, because they tend to buy it as a hedge but do not have it working as

. >> ask david einhorn how well that plays i still think it's going to be driven by tech stocks as much as the j&js and the ifphizers merchandise. >> like you're on idiot, bob, why aren't you with us, get with the program. >> the problem is you've got -- i don't see where you get earnings growth at this point without major revenue growth and it's already priced in >> it's tough bought you've got a lot of people against us evan, you're with us for the hour >>> the trade dispute as we mentioned with china is heating up again after new retaliatory tariffs on $60 billion on u.s. goods. >>> plus the u.s. shrugging off the news and the chinese markets keep falling still ahead we'll debate which nation will blink first, the u.s. or china. >>> coming up find out how many truckers are still need asked how the nafta trade could dispute -- how this dispute could impact the industry. your brain changes as you get older. but prevagen helps your brain with an ingredient originally discovered... in jellyfish. in clinical trials, prevagen has been shown to improve short-term memory. prevagen. healthier

he tweeted yesterday morning saying, that was in response to einhorn's letter >> this company has been about selling the sizzle now thatthe steak is here the steak is sort of raw and uncooked >> when it comes to shorting tesla misery loves company more than 35 million shares have been shorted with the short interest now at a whopping $11.7 billion. today's intraday jump means short sellers have taken over $1.1 billion market to market loss on their position thore not seeing much in the way of bided cover orders as most short orders are looking for some kind of retracement first they've been down billions in the past and still added to their bearish positions, guys. >> world of pain today, though we have someone else less than optimistic on tesla shares here. also joining the conversation is dan ives from jbh insights it's always easy to book a tesla debate because there's so many different views. i've spoken to investors who are still bearish on this. not backing down what do you see here >> two things. one are the gross margin sustainable. in our view they aexhausted a lot of the high

doesn't have -- it's got a lot of sizzle, but it isn't cooked totally through also, of course, david einhorn, who has been short tesla for quite a while and put out his own investor letter last week talking about the short. got in a little bit of a skirmish with elan musk on twitter about this, but, you know, it appears here that based on today's news, up about -- more than 5% right now that, you know, clearly there's a lot of movement that is making this a very difficult stock to short. >> some of those people with bearish positions on tesla are speaking out one spoke not for -- our producer has a bearish position. somebody needs to call the s.e.c. now this smacks of market manipulation this is utter total nonsense what he is doing it may be reflecting the number you said $ch, $631 million of short lost today he not only needs to stop this, but he needs to be fire, leave the company. it smacks of disregard for wall street, for free markets, for everything where. >> i think any short seller would probably share his view on that >> that is a frustrated person with a bearish position. >> yeah.

there is a number of questions about whether they are burning cash or what exactly happens with einhornll they build this $5 billion factory in china and who will fund it? >> i think the funding is the big question for tesla right now. that is the answer that investors will want to hear or get some insight about whether these plans are legitimate. , itplan for chinese factory shows the complexity and the growth that tesla is dealing with, and how they are dealing with the issues to get the start of issues, in terms of model through production, whether they can turn cash, and whether they can get the confidence of investors. francine: will they get confidence? i always heard that people love tesla and elon musk, love it, and people that do not, do not. to have the enough funds? >> i think it is a good question. given where they are in their cycle, with the ramp-up of model three. the vision is one thing, elon musk's panache and sort of mobilizing people is one thing. whether he can do enough of that, whether he has enough to show after the second quarter to fund these kinds of plans is r

seeing him at 3:00 in the morning either making comments even as recently as a day ago about david einhornnk that's putting on the company itself? >> enormous pressure. there's not a lot of ceos who are tweeting as much as elon musk. now there's been this back and forth, it just adds more fire each volley that occurs. it becomes a distraction at times for some of the employees. >> okay. >> tim, thank you for joining us. >>> coming up, when we return, a lot more to come. amazon deals another blow to software maker oracle. we'll explain why and later the fed expected to raise interest rates in september, so is now the time to buy bank stocks. we'll dive into the sector and tell you what's working for your portfolio. >>> announcer: time now for the trivia question. who was the first african-american woman to make it on to the forbes billionaire's list the answer when "squawk box" continues. aflac!? no-good break. gooood break. i'm so sorry we can't make your barbecue. i'm just sick about it. aflac!? different kind of sick. if i can't work after surgery, how am i gonna pay my rent? all these b