According to the latest 13Fs, George Soros' investment firm took a $35 million stake in Tesla's convertible bonds during the first three months of the year

One glimpse at the volume in TSLA converts suggests Soros Fund Management piled in as the price plunged at the end of March...

As a reminder, convertibles are hybrid securities, either bonds or preferred stock, that can be exchanged for a predetermined number of common shares. That effectively lets an investor participate in stock-price changes, but with the yield and greater security of a fixed-income instrument.

The March 2019 Converts bounced handsomely off those lows - tracking the stock's divergent bounce - but in recent days has fallen back towards the lows, catching down to the straight bonds record low price.