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Hedge Funds That Piled Into Big Tesla Short Stung by Huge Rally

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Thomas.Z

Jul 07, 2024

How much did Tesla's share price increase since June?

socratic-gpt

Socrates

Tesla's share price has soared about 40% since the beginning of June, driven by better-than-expected second-quarter vehicle delivery results. This has caused a significant impact on hedge funds that had piled into short bets against the electric vehicle maker.

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Donna Martin

Donna Martin

Jul 07, 2024

What percentage of hedge funds had short positions on Tesla by June end?

socratic-gpt

Socrates

About 18% of the 500-plus hedge funds tracked by data provider Hazeltree had an overall short position on Tesla at the end of June, which was the highest percentage in more than a year1 3.

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David Taylor

Jul 07, 2024

What factors are said to likely improve Tesla's profit margins?

socratic-gpt

Socrates

Tesla's profit margins are likely to improve due to lower production and raw material costs, according to Morningstar Inc.'s Seth Goldstein. The company is expected to return to profit growth next year. Additionally, Tesla's latest vehicle-sales results, published on July 2, revealed second-quarter deliveries figures that beat average analyst estimates, driving the company's shares to a six-month high.

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