Elon Musk, in exclusive comments to CNBC, lauded the Justice Department for investigating short sellers, who have long been a target of his ire
, is focusing on alleged instances of so called "spoofing" and "scalping." Spoofing involves illegally using fake orders to pump or crash a stock price while scalping is when activist investors close out their positions without disclosing that move.
Muddy Waters Research founder Carson Block, a vocal critic of Musk's who has shorted Tesla stock, is reportedly among the investors who have been served search warrants by federal investigators in the short-seller probe. Block said in a statement to the Journal: "I've been saying for several years that it is critical for all stakeholders in the ecosystem to develop sophisticated data analysis capabilities to detect problematic trading. It's dangerous to outsource these analyses to non-practitioners."
The New York Times reported last year that Block was moving on from shorting the electric vehicle giant. In athe Times obtained, Block explained his decision to allies by saying "the market cap, the luster, the élan of Elon, is still there." Andrew Left, another one-time Tesla short, had his computers seized by federal agents, according to Bloomberg. Left said inMusk's war with short sellers goes beyond advocating for his company.
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