This Top Hedge Fund Is “Aggressively Short” Tesla For “Terrible” Fundamentals

Aristides Fund was up 2.63% for April, while Aristides Fund QP gained 2.85% for the month. Year to date, Aristides Fund is up 5.14%, while Aristides Fund QP is up 5.17%. The firm had $128.8 million in assets under management as of Apr. 1.

Q1 hedge fund letters, conference, scoops etc

The shorts drive the gains

Managing Member Christopher Brown said their short book drove most of their alpha in April, including “ridiculously overpriced, low float marijuana stock Tilray” and automaker Tesla, which plunged following weak delivery guidance and a steep Q1 loss. He spent most of his April letter, which was reviewed by ValueWalk, on Tesla.