#tesla #yahoofinance #shortsellers
Tesla (TSLA) shares notched a nine-day winning streak after Monday’s trading session, putting pressure on the stock’s short sellers. S3 Partners managing director Ihor Dusaniwsky joins Catalysts to discuss Tesla’s rally and how short sellers are being affected by the movement. Dusaniwsky notes that Tesla short sellers have lost around $63 billion since the company’s public debut in 2010. He explains that Tesla is “a really important name for a lot of hedge funds because this is the volatility that people are looking for in order to make a good profit.” He also casts some doubt on investors’ bullish call on Tesla, explaining that the company is not just a fundamental trade: “This is a trade that’s a little more technical market-driven because you’ve got a ton of long holders that are just Tesla forever, and really, it’s what the market is doing rather than exactly what Tesla is doing.” Read more about Tesla’s rally here: Tesla looks to extend win streak to 9th day Tesla stock rally continues as robotaxi reveal date nearsTesla stock rises again, extending monster 40% rally over the last month For more expert insight and the latest market action, click here to watch this full episode of Catalysts. This post was written by Melanie Riehl
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