Investors betting against Tesla lose more than $1 billion in a day

Investors betting against Tesla lose more than $1 billion in a day

Investors betting against Elon Musk’s electric-auto maker Tesla collectively lost an estimated $1 billion-plus on Thursday as the company’s stock headed for its best day on Wall Street since 2013. High profile short sellers have clashed with Tesla and CEO Musk in the last few years including Greenlight founder David Einhorn and Jim Chanos.

Tesla is the most heavily shorted stock in the U.S., as well as the most heavily shorted automaker in the world. As Musk himself has over the years taken to Twitter to fight back against investors he clearly stated that the short sellers are feeling the burn. 

 

 

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