Hedge fund short sellers have made $16.2bn betting against Tesla’s shares as the value of Elon Musk’s electric car company has halved over the past three months.
Traders positioned to make money from falls in the share price have accumulated the paper profits since the stock’s closing high on December 17, according to data provider S3 Partners. Tesla’s market value has plunged by more than $700bn over the same period, wiping more than $100bn from Musk’s net worth.
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