Tesla short-sellers sitting on $3.5 billion weekly profits: Ortex
- Dow ends at record high, Nasdaq falls as tech slides
- Trump's Facebook (FB) Ban Upheld, Oversight Board Asks Company to Come Up With a 'Proportionate Response' Going Forward
- PayPal (PYPL) Tops Q1 EPS by 21c, Offers Q2 and FY Guidance
- Peloton (PTON) Plunges After Recalling All Treadmills, Analyst Says Will Negatively Impact Broader Tread Rollout
- T-Mobile (TMUS) Gains After Topping Q1 Consensus as 5G Story Accelerates, 'More to Come' Says Analyst
FILE PHOTO: Representations of virtual currency Bitcoin are seen in front of Tesla logo in this illustration taken, February 9, 2021. REUTERS/Dado Ruvic/File Photo
News and research before you hear about it on CNBC and others. Claim your 1-week free trial to StreetInsider Premium here.
LONDON (Reuters) - Short-sellers are sitting on estimated profits of $3.5 billion from their bearish positions on Tesla shares in the past seven days, as of Feb 23, data from financial analytics firm Ortex showed on Thursday.
The electric carmaker's shares slumped 17% the week through Wednesday off record high levels, as Bitcoin, in which Tesla invested $1.5 billion, pulled back sharply.
(Reporting by Thyagaraju Adinarayan; editing by Sujata Rao)
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Tesla (TSLA) taps tiny startup Springpower's tech to build cheaper, cleaner batteries - Techcrunch
- Tesla (TSLA) at session lows, down 3.2%
- Cathie Wood's ARK Adds Another 3M+ Shares of Skillz (SKLZ), 1.5M+ of Palantir (PLTR) on Tuesday
Create E-mail Alert Related CategoriesGeneral News, Reuters
Related EntitiesTesla, Bitcoin
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!