Traders betting against Tesla are down more than $25 billion this year amid the


}

Elon MuskBrendan Smialowski / AFP via Getty Images

  • Traders betting against Tesla are down $25.4 billion in mark-to-market losses, according to data from financial-analytics firm S3 partners
  • The short-seller losses come amid a blistering rally that’s sent the automaker’s shares to multiple record highs, up roughly 390% this year. 
  • Still, short-sellers are holding on – Tesla is still the top short in the US market, with $21.3 billion in dollars bet against the company, according to Ihor Dusaniwsky, managing partner of predictive analytics at S3. 
  • Watch Tesla trade live on Markets Insider. 
  • Read more on Business Insider. 

Traders betting against Tesla stock have racked up billions in losses amid the stock’s epic rally this year. 

Short-sellers with positions against Tesla are down $25.4 billion in year-to-date net-of-financing mark-to-market losses, according to Friday data from financial-analytics firm S3 Partners. The steep losses come amid a blistering rally that’s sent Tesla stock up roughly 390% this year. 

Traders betting against the automaker are down nearly $7 billion in August alone, and shed more than $1.3 billion in mark-to-market losses on Thursday, when Tesla surpassed the $2,000 level for the first time ever, according to S3 data. They’ve lost another $619 million Friday as the stock continues to climb ahead of its upcoming five-for-one stock split.

The automaker has had “continued steady short covering for over a year as shorts continue to get squeezed,” said Ihor Dusaniwsky, managing director of predictive analytics at S3. Still, there are many short-sellers still holding on to their positions, S3 data show. 

Read more: MORGAN STANLEY: Buy these 22 stocks that are slashing costs as sales take a hit from COVID-19 – putting them in position to smash the market as the economic recovery continues

Tesla is still the largest short in the US market, with $21.31 billion in short interest and 10.65 million shares shorted, 7.18% of its float. In July, Tesla became the first stock with a $20 billion bet against it.

The company has become a particularly popular target for short-sellers, perhaps in part due to CEO Elon Musk’s public beef with the practice of betting against stocks – he’s gone as far as saying the practice should be illegal.

Tesla has more dollars bet against it than technology giants such as Apple, which boasts a $2 trillion market valueAlibaba, Microsoft, Facebook, and Netflix, according to S3. 

Read more: Stock-market wizard William O’Neil famously turned $5,000 into $200,000 in just a few years. Here’s the 7-part model he uses to sniff out winning stocks.

Screen Shot 2020 08 21 at 12.07.20 PMMarkets Insider



Read More: Traders betting against Tesla are down more than $25 billion this year amid the

This website uses cookies to improve your experience. We'll assume you're ok with this, but you can opt-out if you wish. Accept Read More

Privacy & Cookies Policy

Get more stuff like this
in your inbox

Subscribe to our mailing list and get interesting stuff and updates to your email inbox.

Thank you for subscribing.

Something went wrong.