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Squeezed Tesla Bears Buying $276 Million Hand Musk 146% Gain

Bears blindsided by Tesla Motors Inc. have been forced to buy $276 million worth of the automaker’s shares, pushing the company toward the biggest rally in the Russell 1000 Index this year.

Tesla’s short interest, a measure of shares borrowed and sold on speculation they will fall, shrunk by 17 percent in the five days through May 13, after earnings that beat analyst forecasts and Consumer Reports gave the Model S sedan a top rating, data compiled by London-based Markit show. More than $3 billion in market value has been created as the stock jumped 50 percent to $83.24 since May 7.