__________The investors betting against Tesla just got a gift from the company’s chief executive, Elon Musk. The day after the interview, the stock of the electric-car maker tumbled 9 percent to $306. The slide in Tesla’s shares generated more than $1 billion in profits for short-sellers, according to S3 Partners, a financial technology and analytics firm, which tracks the positions held by those investors. The stock drop helped them recover much of their losses that came on Aug. 7, the day Mr. Musk tweeted he was considering taking Tesla private at a stock price of $420. Short-sellers lost $1.3 billion that day after Tesla’s shares jumped 11 percent on the news.

Source: New York Times August 18, 2018 00:00 UTC