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The Economic Times
The Economic Times
Business

Tesla short sellers mint $4 billion profit as shares nosedive

The deep plunge in Tesla Inc.’s stock on Thursday is turning into a major payday for its short sellers.

Shares of Elon Musk’s electric-vehicle maker fell as much as 15% Thursday, their worst intraday drop in more than a year, after second-quarter profit missed expectations and reignited concerns about the company’s artificial intelligence and robotics ambitions.

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