Tesla's Stock Skyrockets 17% in Two Days After Q2 Delivery Beat, Leaving Short Sellers with $3.5 Billion Loss
Tesla's stock price surged by over 17% in just two days after exceeding analyst expectations for deliveries in the second-quarters. This resulted in an estimated loss of $3.5 billion for short sellers. Short interest in Tesla remains at 3.5% of its total shares, with over $22 billion notional value still bet against the company. Tesla still faces challenges in developing fully self-driving software and addressing some brand deterioration from Musk's controversial statements. Musk believes the company's robotics and autonomy work could make it a trillion dollar company.
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00:00It's Benzinga, and here's what's on the block.
00:02Tesla's stock price surged over 17% in just two days after exceeding analysts' expectations
00:08for deliveries in the second quarter.
00:10This resulted in an estimated loss of $3.5 billion for short sellers.
00:14Short interest in Tesla remains at 3.5% of its total shares, with over $22 billion notional
00:20value still bet against the company.
00:22Tesla still faces challenges to develop fully self-driving software and address some brand
00:27deterioration from Musk's controversial statements.
00:30Musk believes that the company's robotics and automotive work could make it a trillion-dollar
00:35trillion.
00:36For all things money, visit Benzinga.com.