Tesla’s stock price plummets, short sellers are expected to make a profit of more than 4 billion US dollars in a single day
[Tesla’s stock price plummets, short sellers are expected to make a profit of more than 4 billion US dollars in a single day] Financial News Agency, July 24, Tesla’s stock price fell sharply on Thursday, and short sellers are expected to make a fortune. Shares of the electric car maker run by Elon Musk fell as much as 15% on Thursday, its biggest intraday drop in more than a year. Previously, the company's second-quarter profit fell short of expectations, once again triggering market concerns about its artificial intelligence (AI) and robotics ambitions. Ihor Dusaniwsky, managing director of S3 Partners, said the sell-off allowed investors who bet on Tesla's stock price to fall to earn a single-day mark-to-market profit of about $4.12 billion. S3 data shows that about 3% of Tesla’s shares are short-sold.