APElon Musk.Billionaire entrepreneur Elon Musk has loaded up SolarCity shares, just days after famed short-seller Jim Chanos disclosed he is shorting the stock.
Musk currently owns 20, 805, 082 shares. SolarCity closed up $3.62, or 8.83%, to end the day at $44.61 per share.
Chanos thinks SolarCity's business model is similar to that of a subprime financing company.
"And the residential model, I'd like to point out — SolarCity is really a subprime financing company in effect. You basically lease the panels from SolarCity. They put them on your house and they collect the lease payments. So in effect, if you put on the panels you have a second mortgage on your home because you hope it's an asset, but in many cases it turns into a liability, " Chanos said.
Zumba Fitness - Kinect - Xbox 360
Video Games (Majesco Sales Inc.)
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- Includes more than 30 Zumba routines - some exclusive to the game.
- Follow your on-screen Zumba instructor s routine in a high voltage party atmosphere. As you fine tune the steps.
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