Tesla's bloodbath racks up a $1.4 billion profit for short sellers in just 3 days

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What a macaan day for short sellers.:banderas:


...don't let the bears steal your shares!!!!!!
24cfdc9f-b98b-4c19-bc00-7fd1012eab02.gif

Tesla short sellers have been waiting patiently for a bloodbath like this. Even as the company's stock surged as much as 79% year-to-date through June 23, costing the speculators upwards of $5 billion, they hung tight.

Short interest actually reached a record high of $11 billion as recently mid-June before the traders pared the position slightly. As of Thursday, the measure still sat at nearly $9 billion, according to S3 data.

Tesla's stock price issues started in earnest on Wednesday, when Goldman Sachs said it sees the company's production levels plateauing. As a result, the firm cut its 12-month price target on Tesla from $190 to $180. That's roughly 40% below Thursday's trading price.
 
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What a macaan day for short sellers.:banderas:


...don't let the bears steal your shares!!!!!!
24cfdc9f-b98b-4c19-bc00-7fd1012eab02.gif

Tesla short sellers have been waiting patiently for a bloodbath like this. Even as the company's stock surged as much as 79% year-to-date through June 23, costing the speculators upwards of $5 billion, they hung tight.

Short interest actually reached a record high of $11 billion as recently mid-June before the traders pared the position slightly. As of Thursday, the measure still sat at nearly $9 billion, according to S3 data.

Tesla's stock price issues started in earnest on Wednesday, when Goldman Sachs said it sees the company's production levels plateauing. As a result, the firm cut its 12-month price target on Tesla from $190 to $180. That's roughly 40% below Thursday's trading price.

Sounds good, it does.. but what does that mean in laymen terms?
 
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