Tesla Shortsellers could have bought several automakers with their losses just this year

Tesla stock market

Just last month we told you Tesla (TSLA) traders betting against the automaker hoping the stock would go down, otherwise known as shortsellers, were down a massive $18 billion in the first six months of 2020.

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That was when the price of Tesla shares was hovering around $1,500. With the recent rise above the $2,000 mark, shortsellers are even more in the red, now up to more than $25 billion according to Business Insider.

To put that number into perspective, with Tesla’s stock up nearly 400% this year, the losses would be enough to buy several large legacy automakers. With just an extra $1 billion, they could have bought Ford. If they wanted a little change in their pockets, they could have bought Fiat Chrysler Automobiles. Or even several of them instead of just one.

Automakers by market cap
Image via Top 25 automakers by market cap

Even though shares have seen such a huge rise this year, it could only be the beginning as the automaker could soon be joining the S&P 500. Updated plans were also just released for their Battery Day event, where they are expected to make several key announcement in advances in battery technology.

Then of course there’s the 5-for-1 stock split happening later this week.

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Always one to have a little fun, especially at the expense of those betting against himself and Tesla, CEO Elon Musk recently released a pair of satin red short shorts, priced at just $69.420 USD.

About Mike 486 Articles
Senior Contributor. White Long Range AWD Model 3 owner since October 2018. EV fan since 2012 with my first Nissan Leaf | Mike@DriveTeslaCanada.ca Have a Tesla tip? Email tips@driveteslacanada.ca, or DM us on Twitter @DriveTeslaca