Longtime Tesla bear Greenlight's David Einhorn is betting against the EV maker again

Published Mon, Feb 14 20226:33 PM ESTUpdated Tue, Feb 15 20228:05 AM EST

Greenlight Capital's David Einhorn, who has a history of betting against Tesla , just disclosed a new bet against the Elon Musk-led company. The hedge fund manager was long puts against 100,000 shares of Tesla with a notional value of $106 million, according to the new fourth-quarter filing with the U.S. Securities and Exchange Commission. Investors profit from puts when the underlying securities fall in prices. As of December 31, Einhorn owned 1,000 put contracts, with unknown value, strike price, or expiry, according to the filing. It's not known exactly how big the position is since we don't know the price the short-seller paid for the options. To be sure, it's also possible Einhorn could have gotten out of the position in the first quarter of this year. If he has remained, the position has likely been profitable with Tesla stock off 17% so far in 2022. Einhorn was one of the most vocal Tesla bears on Wall Street at one time, taking issue with the carmaker's safety concerns, price-cutting and demand. The prominent Tesla critic even once called the company's promises about autonomous vehicles "horse---t." The investor has gone in and out of his short position over the years. He last exited his short position at the end of 2020 at a huge loss. Tesla's shares rallied over 400% that year. Other moves The regulatory filing also confirmed Einhorn's new bet on Global Payments during the fourth quarter, as CNBC previously reported. The new stake was worth about $68 million as of the end of December. Greenlight's biggest holding remained Green Brick Partners . Einhorn said last year that it makes a good bet on rising housing prices as the economy recovers from the pandemic. The stock surged nearly 48% in the fourth quarter. Brighthouse Financial was Greenlight's second biggest holding. Einhorn previously said the financial firm is a bet to capitalize on equity markets' rebound and higher long-term interest rates. The hedge fund trimmed the stake by 3% in the fourth quarter. Einhorn also cut its lucrative bet on Canadian mining company Teck Resources by about 25% in the fourth quarter. The stock was up 16% in the fourth quarter.

David Einhorn speaking at the 24th Annual Sohn Investment Conference in New York, on May 6, 2019.

Adam Jeffery | CNBC

Greenlight Capital's David Einhorn, who has a history of betting against Tesla, just disclosed a new bet against the Elon Musk-led company.