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Fri Jul 22, 2022, 03:22 PM

Tesla's $100 billion rally costs short sellers at least $1 billion

Yahoo Finance

Tesla's $100 billion rally costs short sellers at least $1 billion

Alexandra Semenova Reporter
Fri, July 22, 2022 at 2:20 PM

A recent rally in Tesla shares (TSLA) has meant some serious pain for short-sellers who had enjoyed a successful spring betting against the electric carmaker.

Short-sellers betting against Tesla lost at least $1 billion on Thursday alone, according to data from S3 Partners, as the stock rallied 10% following the company's latest quarterly report.

Shares finished Thursday's session at $815.12, their highest close since May 6.

Tesla was little-changed on Friday afternoon amid a broader sell-off in tech stocks.

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