Elon Musk’s tweet about going private costs Tesla short-sellers more than $800 million

Elon Musk’s tweet about going private costs Tesla short-sellers more than $800 million

6 years ago
Anonymous $oIHRkISgaL

https://www.cnbc.com/2018/08/07/elon-musks-tweet-about-going-private-costs-tesla-short-sellers-more-t.html

Investors betting against Tesla lost more than $800 million after a tweet from CEO Elon Musk verified account which mentioned taking the company private, according to estimates from financial technology firm S3 Partners.

Tesla shares rose 7.4 percent Tuesday, meaning short sellers are losing $884 million in mark-to-market losses, according to estimates from S3's head of predictive analytics Ihor Dusaniwsky.