stock price are at their highest point of 2019 so far as the company gears up to report its first-quarter earnings.CEO Elon Musk, meanwhile, has long derided short sellers who bet against Tesla's stock price.Meanwhile, investors were ratcheting up their bets that the company's stock price will decline following the report that CEO Elon Musk has warned there will be another slip back into the red for Tesla.
Tesla's stock, meanwhile, has fallen nearly 15% since the beginning of the year, as store closings, a disappointing first-quarter deliveries report, and fears for the company's ongoing financial stability weigh on investors' minds. In the latest 3.6% decline since Monday, short-sellers have made $334 million in profits, according to S3.
"We should see short sellers topping off their bets [on Wednesday], if they feel TSLA will report a quarterly loss following a delivery shortfall in its first quarter," Ihor Dusaniwsky, managing director of predictive analytics at S3, said in the report. Tesla's not only the most popular short target for professional investors, but also amateur traders who can mimic their directional bets through options contracts on retail brokerages. On Twitter,
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Source: CNBC - 🏆 12. / 72 Read more »