It hasn’t exactly been a good time for “investors” who have placed bets against Tesla, hoping that the stock would fall, eventually to 0.
These “investors”, otherwise known as $TSLAQ, have lost $18 billion in just the first 6+ months of 2020. With July not even two weeks old, they have already lost $4 billion this month alone (via CNBC).
That amount of money lost in half a year is more than the entire gross domestic product (GDP) of many nations, including the likes of Togo, Sierra Leone, and the Bahamas.
Despite the recent gains which have seen Tesla shares (TSLA) rise more than 140% over the last three months and more than 480% over the previous 12 months, the automaker remains the largest short in the market today.
In honour of the short sellers burning through money, Tesla recently released a pair of satin red short shorts, priced at just $69.420 USD.
Tesla share prices could rise even higher in the coming weeks if the automaker is able to post their fourth consecutive profitable quarter on July 22. If they can, it could lead to inclusion in the S&P 500, which is sure to boost the stock price even more.
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