Short-sellers racked up about $1.1 billion in losses on paper on Thursday, pushing their year-to-day performance into the red, after Tesla Inc (TSLA.O)’s shares soared as much as 11 percent a day after the electric carmaker reported results, according to financial analytics firm S3 Partners. Short-sellers aim to profit by selling borrowed shares, with the hope of buying them back later at a lower price, and Tesla is the most shorted U.S. stock. Short-sellers’ on-paper losses have now swelled to $831 million for the year, S3 data showed. …read more
Source:: Yahoo Finance
