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

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.

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.

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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