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Tesla short-sellers sitting on $3.5 billion weekly profits

Finance Materials 25 February 2021 16:47
Tesla short-sellers sitting on $3.5 billion weekly profits

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, Trend reports with reference to Reuters.

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.

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