The Cybertruck has faced four voluntary recalls in the U.S. The issues include faulty windshield wiper motors, cosmetic pieces that could come off while driving, a problem with the accelerator pedal assembly, and a software issue with the font size of warning indicators.
Tesla shares jumped this week due to a better-than-expected deliveries report for the second quarter. The company delivered 443,956 vehicles in the quarter, beating Wall Street estimates of 439,000. This positive news boosted investor confidence, leading to a 17% rally in the stock and causing short sellers to lose an estimated $3.5 billion on a mark-to-market basis.
Short sellers have lost approximately $3.5 billion due to Tesla's recent rally, as the stock has risen 17% in just two trading days following a better-than-expected deliveries report for the second quarter. This has been a painful few months for short sellers, as Tesla shares have soared 73% since bottoming for the year in April.