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Benzinga
Benzinga
Business
Wayne Duggan

Tesla Short Sellers Take $1B Hit, 'Short Squeeze Hell' Could Be Coming

Ihor Dusaniwsky short squeeze Nasdaq

It’s been a rough year for Tesla Inc (NASDAQ:TSLA) investors, with the stock down more than 22% year to date overall even after a big 9.8% gain on Thursday following a second-quarter earnings beat. While Tesla bulls celebrate the long-awaited good news, Tesla short sellers are getting torched.

Massive Profits Wiped Out: Heading into earnings, Tesla had been one of the most profitable short trades in the market in 2022, scoring short sellers a $7.35 billion year-to-date mark-to-market profit. However, Tesla short sellers endured $1 billion in losses in early Thursday trading, according to S3 Partners analyst Ihor Dusaniwsky. He said Tesla short sellers have now endured $2.6 billion in losses in the month of July, making it the least profitable short in the market for the month.

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