Investors betting against Tesla suffered record losses of $5.8 billion (€5.2 billion) in January after the stock hit a new high, marking a win for chief executive Elon Musk in a long-running battle with short-sellers. Investors that buy up short positions profit when a stock falls in value and have piled into bets against Tesla over the years. The monthly loss for Tesla short-sellers was the worst on record and the biggest across short positions in S&P 500 companies in January, according to S3 Partners, a data provider. “The only things growing at this alleged hypergrowth company are increasingly profitless unit deliveries and the stock price,” Mr Spiegel said. Greater competition from established automakers in the electric vehicle segment would also pressure Tesla’s stock price in the future, he added.

Source: The Irish Times February 03, 2020 10:41 UTC