Einhorn Escalates Musk Twitter War: Demands To Know If “Accounts Receivable Even Exist”

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Einhorn Escalates Musk Twitter War: Demands To Know If “Accounts Receivable Even Exist”

Two weeks ago, Tesla CEO Elon Musk and hedge fund Greenlight Capital’s founder David Einhorn went twitter-account-to-twitter-account with one another after the hedge fund manager made a well-reasoned argument about potential fraud allegations at Tesla (and Musk responded with ad hominem snark).

Einhorn Escalates Musk Twitter War: Demands To Know If "Accounts Receivable Even Exist"

Einhorn, having heard nothing back in two weeks, has tweeted at the CEO of the breakable ‘unbreakable’ glass company…

Dear Elon,

I haven’t heard back from you and I followed up by contacting your  investor relations team more than a week ago. Silence.

What’s more, I understand your IR people are saying (never mind REG FD) that there is a “very easy” explanation for the accounts receivable  question I raised.

The purported answer (about Europeans paying by check on the last day of the month and money generally taking 2 days  to clear in the US) doesn’t even explain half the balance. Further, it is inconsistent with your explanation of the accounts receivable jump in inconsistent with your explanation of the accounts receivable jump in the September 2018 quarter, when the Model 3 wasn’t even being sold in Europe.

I’m beginning to wonder whether your accounts receivable exist.

I’d still love to schedule a tour and, even more, some time with Zach.

David Einhorn

A cursory search of the interwebs shows this explanation is extremely unlikely as the only country in Europe that uses checks (in any measurable level) is France…

Einhorn Escalates Musk Twitter War: Demands To Know If "Accounts Receivable Even Exist"

h/t @JTSEO9

We anxiously await Musk’s snarky response… but of course, he is a little bust with his Mad-Max machines.


Tyler Durden

Fri, 11/22/2019 – 13:56