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Shorts targeting Tesla lose more than $ 1.4 billion in one day



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

6 billion in profits before TSLA began its ongoing rally in June. "

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. [19659002] 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.


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