news 1 month ago

Tesla's Stock Surges 233%, First Stock With $20 Billion Short Bet

Wochit Postables
According to Markets Insider, Tesla is in the position to become the first company to have a $20 billion bet against it by short-sellers. This is based on data from the financial analytics firm, S3 partners. So far, Tesla's stock shot up by 233% this year. The value of Tesla shares that have sold short climbed to $19.95 billion Tesla could also soon see a short squeeze, shooting it's stock prices up higher. A short squeeze happens when short-sellers must close their positions because a stock's price has gotten too high. The electric car company has also kept its ranking as the largest equity short in the U.S. market.