Fresh off their most profitable year ever, short sellers targeting Tesla Inc's stock are heaping more pressure on the electric vehicle maker led by Elon Musk.
The logo of car manufacturer Tesla is seen at a dealership in London, Britain, May 14, 2021. REUTERS/Matthew Childs/File Photostock are heaping more pressure on the electric vehicle maker led by Elon Musk.
Tesla short interest stands at $8.76 billion, or nearly 3% of the share float, down from $14 billion a month ago, a decline reflecting the steep drop in Tesla's stock price.about 65% last year. The decline accelerated after Musk decided to buy social media network Twitter, a move that some investors saw as a distraction for the billionaire chief executive. Shares in Tesla tumbled as much as 7.9% on Friday to $101.81, its lowest since Aug. 12, 2020 before rebounding to add 1.2% at $111.69.
In 2022, Tesla was the most profitable short trade in the U.S. market, earning $15.85 billion in paper profits for investors, according to S3 data. That was the best year ever for Tesla short sellers, but they have recouped only about a quarter of the $60 billion in estimated losses from 2010 to 2021.
Singapore Latest News, Singapore Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
2022 Favorites Talk 2022 Albums and 2023 PlansWeasked Houston music folks we featured in 2022 for their best album of 2022 choices. It’s a list that might turn you onto some music you missed last year and one that serves as a recall to the stories we did on these artists. Best of all, it details plans...
Read more »
BYD Sold 911,410 BEVs In 2022 And Is Closing In On Tesla | CarscoopsBYD is on track to overtake Tesla as the world's largest manufacturer of electric vehicles
Read more »
U.S. EV Sales Jolted Higher in 2022 as Newcomers Target TeslaElectric-vehicle purchases jumped in 2022, with fresh plug-in models from traditional auto makers whittling away at Tesla’s lead
Read more »
Elon Musk Fan Files Trademark for Tesla Boats and Planes Without Telling TeslaAn Elon superfan was moved by Musk's claims that the Cybertruck could be a boat, so he decided to file a trademark for boats and planes on Tesla's behalf.
Read more »
Tesla Semi's Spacious Cabin Is Built Around The Driver, Tesla Engineer ExplainsA presentation by Elon Musk and Tesla Semi senior engineer Dan Priestly, the duo discussed the electric truck’s interior in detail.
Read more »
Austin Film Critics Association Announces 2022 Awards Short ListsThe Austin Film Critics Association has announced its short lists for its 2023 awards - including the five nominees for the Austin Film Award, given to a film directed by Austin residents.
Read more »