'Oh damn, I got my butt kicked': Tesla shorts are reeling from the 350% stock rally - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 43 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 21%
  • Publisher: 51%

United States News News

United States United States Latest News,United States United States Headlines

'Oh damn, I got my butt kicked': Tesla shorts are reeling from the 350% stock rally

"Oh damn, I got my butt kicked" is a common sentiment among short-sellers, Robert Majteles"It's the biggest set of losses that I've ever taken in 20 years," the private investor, who closed his negative position this month, told the newspaper.

Tesla shares have surged 350% in the past six months, and touched an all-time high of over $900 last week. They were up 8.5% at $810 in early trading on Monday. The gains are bad news for short-sellers, who"Tesla is my widowmaker," Amy Wu Silverman, a managing director at RBC Capital Markets who bought negative put options on the stock, told The Journal.have hit their pain thresholds and halted their bets against Tesla.

"This is a car company, yes a higher-end one, but it's still a car company, with the same low margins of other auto makers," Chanos told the newspaper. He added that Tesla's recent profits reflect its sales of tax credits rather than cars. Tesla accounts for around 2% of the portfolio of Chanos' hedge fund, Kynikos Associates, The Journal said, citing people close to the matter.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in US
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

I kicked it...if u don't know....Sir Tesla

that's why

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Here are the best stocks besides Tesla to play the electric vehicle boom, Morgan Stanley saysNew for subscribers: Here are the best stocks besides Tesla to play the electric vehicle boom, Morgan Stanley says Check out CNBCPro and get your first 30 days free. Pro Lets ask my favorite Investment Analyst if the Tesla Fan Boi Stock move is something you should be playing the derivative of...
Source: CNBC - 🏆 12. / 72 Read more »