Tesla Short-Sellers Hold Firm After Netting $1 Billion in May
May 20: Tesla Faces 'Hurricane-Like' Headwinds, Analyst Ives Says
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A dismal month for Tesla Inc. shares has been a boon for bearish investors betting against Elon Musk’s electric-vehicle maker.
Mark-to-market profits for short sellers have exceeded $1 billion in May, making the month among the most profitable for bears since 2016, according to data from S3 Analytics. While there has been a slight spike in short covering over the past week, Tesla continues to be one of the most popular short positions among U.S. stocks, S3 said in a research note.