In case you’ve been living under a rock for the last 6 months, you no doubt know that Tesla shares (TSLA) have been on a massive run lately, already up more than up 87% this year
and a whopping 233% in 6 months.
The flip side to those massive gains are those people who have decided to bet against Tesla and that the shares will drop, otherwise known as short sellers, who commonly use the hashtag #TSLAQ.
On Monday, TSLA shares rose 20% to a new closing high of $780.00. That big jump saw those Tesla short sellers waste away nearly $2.5 billion…in one day. For the year, that is only 33 days old, short sellers have lost $8.5 billion (via CNBC).
There aren’t just a few of these short sellers either. According to S3 Partners, more than 18% of the publicly available shares are ‘short’.
And we haven’t even seen the short squeeze yet.