Are Tesla’s Short Sellers Finally Giving Up?

They’re up $2 billion this year, but it’s not enough to make up for past losses — and now the stock is soaring.

(David Paul Morris/Bloomberg)

(David Paul Morris/Bloomberg)

Tesla short sellers have been covering their shorts for months, and now they have another reason to do so: a profitable third quarter has just sent shares of the electric carmaker soaring.

It’s something of a whiplash for Tesla shorts. Given their gains in the first half of 2019, Tesla’s short sellers were up $2 billion this year on the trade, making Tesla the most profitable short bet in the U.S.

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