Tesla short sellers were definitely silly. But, it's not fair at all to compare hedge fund performance to the S&P. They hedge their market exposure (after all, it's in the name), and most market neutral hedge funds end up with a beta of around 0.2, meaning that if the market goes up by 1%, the fund will go up by 0.2% on average (plus their alpha).
How are Tesla shorts silly? Can you name any other valuation of a company that is more detached from reality? People were clowning Gamestop when it was around $60-80 stock price (it has dropped below that now. Besides the pt) which gave it a market cap below $5B.
Tesla at $800B is more insane. You and all of us have just gotten used to it.
