Breaking News

Tesla Rekt Short-Sellers As The Stock Rallies 36% In Two Days.

Tesla’s stock is currently worth $887.06 a share, burning Short-Sellers twice harder than it did last month. The stock reached an intraday high of $968.99 before it weakened towards closing. Tesla’s stock is up 116% year-to-date.

Tesla market cap of $159.888 billion is more than the $104 billion combined value of Detroit’s three largest companies: General Motors, Ford and Fiat Chrysler.

Tesla is the favorite short-sellers’ stocks, followed by Apple, and the most shortest share of US equities, with 24 million of its shares, or about 18% of its float borrowed by short sellers. So there is a very good chance that Shorts are yet to be seriously burnt.

The Famous Short-Seller

The famous short seller behind Citron Research is back shorting Tesla. According to him: “This is obviously a computer-generated rally, it’s not a reflection on the company, or on valuation. It’s just a trade,” Left told MarketWatch. “Yes, I’m shorting it … whoever bought it at these prices has to flush it out, and when it flushes, it’s going to flush hard.”

In the last seven months, short positions on Tesla shares have lost over $8.4 billion, according to S3 Partners, a financial analytics firm. Tesla short-sellers lost $2.5B on Monday alone. I believe they must have lost close to $5 this month alone.

It’s definitely not fun to live in short-ville.

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