Tesla short sellers lost $3.5 billion in two days of trading after deliveries report
How many voluntary recalls has the Cybertruck faced in the U.S.?
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.
What caused Tesla shares to jump this week?
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.
How much have short sellers lost due to Tesla's rally?
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.