Short sellers betting against Tesla lose more than $1 billion in single day

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Ouch.

  • Investors betting against Tesla lost more than $1 billion Wednesday, according to estimates from financial technology firm S3 Partners.
  • Tesla bears have lost nearly $5 billion in mark-to-market losses since 2016, S3 finds.
  • The electric car maker is one of the most heavily shorted stocks in the U.S., as well as the most heavily shorted automaker in the world.
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Investors betting against Tesla lost more than $1 billion Wednesday as the company’s shares rallied the most in over two years, according to estimates from financial technology firm S3 Partners.

Tesla stock closed Wednesday up 9.7 percent at $319.50 per share, meaning investors who sold the stock short lost a collective $1.07 billion in a single day, estimates S3. Tesla bears have lost nearly $5 billion in mark-to-market losses since 2016, S3’s head of predictive analytics Ihor Dusaniwsky told CNBC.

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Tesla shorts mark-to-market losses, in millions

Source: Ihor Dusaniwsky, Head of Predictive Analytics at S3 Partners

www.cnbc.com/2018/06/06/shorts-against-teslas-stock-lose-more-than-1-billion.html

Tesla is one of those stocks where I’m too afraid to even touch it, long or short.

h/t COMPUTER1313

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