Investors betting on Elon Musk's electric car maker Tesla lost an estimated $ 1 billion plus on Thursday as the company's stock price hit its best day on Wall Street since 2013.
Tesla jumped 16.5% Thursday to around $ 300 per share, which means short sellers who target the stock are on track for $ 1.4 billion in market-to-market losses per day – wiping out almost 70% of short sellers' annual earnings, estimates S3 Analytics.
"As Elon Musk stated earlier this year," card sellers are & # 39; feeling the burn & # 39 ;, wrote Ihor Dusaniwsky, CEO of S3. "Prior to today's price swing, TSLA card sellers were up + $ 2.00 billion in market-to-market profits, down from today's P + L to $ 5.1
To be sure, those who bet against Tesla in early 2019 are still in the black to date, with equity down more than 11% this year after Thursday's price trend. Tesla's stock closed at $ 254.68 on Wednesday , which at that time represented a 23.4% slide for 2019.
Tesla is the most short-lived stock in the United States, as well as the shortest car maker in the world. Short-term interest rates, or the number of shares borrowed in the hope of buying holding them back with profits after the stock fell to $ 9.3 billion for Tesla, according to S3.
Some high-profile card sellers such as Greenlight founder David Einhorn and Jim Chanos have clashed with Tesla and CEO Musk in recent years.  Over the years, Musk has taken to Twitter to fight such doubters and fight back against investors who are betting on his stock and other bidders, often with controversial comments.