Tesla short-sellers reap $17B windfall during Elon Musk company’s worst year ever


Source: nypost.com nypost.com

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Tesla’s unprecedented stock struggles during CEO Elon Musk’s Twitter takeover have been a major boon to the automaker many short sellers, according to market data published Thursday. Investors who bet against Tesla’s stock are set to earn a whopping $17 billion in mark-to-market profits this year, Bloomberg reported, citing data from analytics firm S3 Partners Research. Tesla ranked as the most lucrative short bet over the last 12 months. The boost to short-sellers occurred as Tesla tracked for its worst year of market performance on record. As of Thursday morning, Tesla shares were down 71% on the year. S3 Partners’...