There are understanding “Teslanaires” who, of course, will talk to you about how amazingly good it has done them this year, and then there is the other, much darker side of the trade.
Those who bet against Elon Musk.
According to S3 Partners, short sellers lost more on the Tesla TSLA,
than they did at any other company. And it’s not close to the distance. We talk billions and billions more.
This is “not just the biggest market loss for any stock this year,” S3 CEO Ihor Dusaniwsky told Bloomberg News, but “the biggest annual market loss we’ve ever seen.”
In total, Tesla is suffering losses of over $ 38 billion, as the stock exploded for a gain of over 700% this year. The next biggest money loser for short houses? Apple AAPL,
at nearly $ 7 billion, S3 reported.
And Musk clearly enjoys every minute with games like this:
In the midst of the massacre, there are far fewer Tesla shorts nowadays, with short interest rates falling to 6% of the float compared to 20% a year ago. Jim Chanos, founder of Kynikos Associates, for example, told Bloomberg earlier this month that betting on shares was “painful” and reduced the size of its short position in its hedge fund.
“The short spill took place all year. It was a straight line sloping down, “S3’d Dusaniwsky told Bloomberg. “The great thing about Tesla, unlike any other stock, is that the vast majority of retail shareholders will never be sellers. I love stocks, I love cars, I love Elon Musk and I am a long-time shareholder. “
Tesla shares are about to end the year with an increase of 1% at the beginning of Thursday’s short trading session, while the Dow Jones Industrial Average DJIA,
and S&P 500 SPX,
Nasdaq Composite COMP also rose above,
was slightly stopped.