With Tesla up 20% in June, short sellers are taking it in the shorts to the tune of $2B! Can't think of a more deserving group.
That's awesome! Hahahahaha!
Looks like only paper losses so far. I want to know when they have to buy those shares back for real :-)
Congrats to the longs, owners and enthusiasts. We know.
@johnyi, Yes, this sounds like when people are wailing about how they have "lost" so much money on their houses because real estate values are down. You're living in your house just like you were last year, and it still serves the same function. You haven't really lost anything unless you decide to sell it.
Feeling really good now, looking forward to the real short squeeze coming!
Chanos previously stated Tesla stock was worth $0. Today he says it’s overvalued. Tomorrow?
I heard Chanos say that there was no timeline for the shorts....they can hold as long as they want. I thought there was always some kind of deadline?
The "deadline" for short sellers is usually indefinite. Short sellers borrow shares, and the lender of those shares, typically a brokerage, can ask for them back if the value of the brokerage account becomes in danger of having insufficient value to return the borrowed shares. I suppose someone like Chanos has access to a lot of other investments so there is low risk of him being unable to return the shares eventually.
The short squeeze happens when a lot of short sellers decide to get out because they are afraid the stock will continue to rise.
I am asked is there intelligent life on earth?
Thanks @Mike83, I laughed so hard after seeing your link I lost my coffee all over my keyboard! Made my day, agree, sometimes I also wonder is there intelligent life when people act like this.
The best comment for that article @Mike83 was 'It must have been an exhausting experience for her'.
@Tesla-David I like to look at it once in awhile to actually believe this happens and laughing is healthy with all the weird politics. The next jokes will be forthcoming about former campaign manager Manafort who is now Locked and Trumps guys must be freaking out. The old movie The Russians are Coming was a spoof but this seems too real.
LOL good catch.
I have one rule for my teenage daughter. "Don't do stupid things." So far, she has complied.
That you know of!
I still suspect most are "naked shorts" which is why no one has lost much money and it goes on and on and on. Just helps with market volatility, right?
Still hanging on to my Tesla stock, even though I was advised to dump it!
Dump it. And the car.
Naked shorting was outlawed by the SEC after it was determined the practice contributed to the downfall of Bear Stearns and Lehmans. Then, rules have never meant all that much to Wall Street.
Up to $367. Question - how do analysts know when a “short squeeze” is happening?
I’m sure Elon’s purchase of $25M is putting some additional pressure on.
They can look at short interests. It was reported that short interest has not changed during the last couple weeks' stock run. They are still there but it not going to be very long with the high cost of borrowing stocks and margin requirements (that's where short squeeze is coming from btw). I kind of think Elon still have few more weapons to finish them off. Those shorts should not have picked the fight with Elon.
"Naked Shorts" sounds like an oxymoron.
$370.83 (TSLA) things are looking good, maybe the shorts are starting to feel the pain and panic is in the air! ;0)
Elon tweets that they have three weeks to cover. Interesting....
Spiegel capitulated and closed his short position.
3 weeks is when they will report the flood of deliveries starting July 1st, allowing the tax credit extension until January 1st.