Shares of electric vehicle company Tesla Inc (NASDAQ: TSLA) are up more than 7,000% in the last 10 years. Despite the strong gains the stock has shown, a large number of investors have bet against the stock by going short, which has been a costly move for many.
What Happened: Tesla posted its worst annual stock performance since going public in 2010 with a 69% drop in 2022. The drop in Tesla’s share price in 2022 had many expecting a rebound in 2023.
Tesla shares have rebounded in 2023 and are up over 70% year-to-date, a move that briefly saw Tesla CEO Elon Musk reclaim the title of the world’s richest person.
Short sellers betting against Tesla were profitable in 2022, a rare item for those who have bet against one of the most successful stocks of the last decade.
S3 Managing Director of Predictive Analytics Ihor Dusaniwsky took to Twitter recently to share how …
