Tesla Inc. short sellers lost billions more on the electric-vehicle maker than any other company in 2020, as bears got severely burned by the stock’s surge to new highs. By comparison, the next-biggest loss for short sellers was on Apple Inc., at just under $7 billion, S3 data shows. Those short sellers include some high-profile names such as Jim Chanos, president and founder of hedge fund Kynikos Associates. Many of Tesla’s short sellers have closed out their positions over the course of 2020, with short interest falling to 6% of the float from nearly 20% a year ago, according to S3 data. There was clearly more interest in shorting the stock before 2020, and then 2020 knocked out a lot of shorts."

Source: Mint December 31, 2020 13:08 UTC