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Jim Chanos reduces size of Tesla short - Bloomberg News

Dec 3 (Reuters) - Jim Chanos, who has been short on Tesla Inc’s stock for five years, has reduced his bet against the electric carmaker, the short-seller told Bloomberg News on Thursday.

Chanos told Bloomberg he has never met or had a conversation with Elon Musk, but if they were to meet he would say "job well done so far." (bloom.bg/2VuaESO)

The change in tone from the bearish investor, whose hedge fund Kynikos Associates first disclosed the short position in 2016, comes ahead of Tesla’s entry to the S&P 500 benchmark index on Dec. 21.

Tesla’s stock has risen nearly seven-fold so far this year. Its shares were up 3.2% on Thursday, extending its meteoric rally.

"Obviously this is not being valued as a car company, it's being valued on Musk ... he's the reason people own the stock," Chanos had said in 2017. (reut.rs/3qmx5HP)

Chanos did not immediately respond to a Reuters request for comment. (Reporting by Chavi Mehta in Bengaluru; Editing by Krishna Chandra Eluri)

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