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Despite previously shorting Tesla, Chicken Genius recently disclosed his decision to buy Tesla shares, prompting questions about his evolving thesis. He explained that nothing significant had changed in Tesla's fundamentals; rather, sentiment among retail investors has grown particularly negative. The shift in narrative around Tesla now involves internal disputes, notably from influential figures like Leo Kagon, a billionaire and Tesla shareholder.
Kagon publicly called for Elon Musk to step down as Tesla's CEO, accused Musk of neglecting Tesla and its shareholders, and expressed frustration with what he perceives as Musk's conflicting priorities. Although Kagon subsequently apologized, the controversy introduced a significant amount of drama and cast a shadow over Tesla's leadership.