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Tesla Punishes Short-Sellers With Losses

  • Tesla shorts have paper losses of $7.2 billion: S3 Partners
  • Apple, Meta, Amazon rallies also weighing on short sellers
Tesla has surged 69% so far in 2023.

Tesla has surged 69% so far in 2023.

Photographer: Qilai Shen/Bloomberg
Updated on

The surge in technology stocks that’s caused renewed losses for short sellers this year looks to be running out of steam, encouraging bears to maintain their bets against long-time targets such as Tesla Inc., Apple Inc. and Meta Platforms Inc.

Ten of the most-shorted stocks this year delivered almost $17 billion in combined mark-to-market losses for bears through Thursday, according to data-analytics firm S3 Partners. Tesla, which has surged 67% so far in 2023, leads the group by dealing a $7.2 billion blow to traders shorting the stock. The electric-car maker is followed by Nvidia Corp., Apple, Meta, Inc. and Microsoft Corp.