Tesla's Stock Skyrockets 17% in Two Days After Q2 Delivery Beat, Leaving Short Sellers with $3.5 Billion Loss

Benzinga

10 days ago

Tesla's stock price surged by over 17% in just two days after exceeding analyst expectations for deliveries in the second-quarters. This resulted in an estimated loss of $3.5 billion for short sellers. Short interest in Tesla remains at 3.5% of its total shares, with over $22 billion notional value still bet against the company. Tesla still faces challenges in developing fully self-driving software and addressing some brand deterioration from Musk's controversial statements. Musk believes the company's robotics and autonomy work could make it a trillion dollar company.

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