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Tesla short-sellers lose more than $5B during late-April rally - S3 Partners [Seeking Alpha]
Last tesla, inc. earnings: 4/29 04:11 pm
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US:NASDAQ Investor Relations: ir.tesla.com
Elon Musk's EV maker has seen a price surge after the company said it plans to add a cheaper model to its existing lineup. The stock has shot up more than 30% since the close of trade on April 23, including a 15% rise on Monday. The stock lit up after Tesla's Chief Executive Elon Musk said during the company's earnings conference that it plans to launch a more affordable electric vehicle model that can be produced on its current manufacturing lines. “The recent rally in its stock price has taken a large chunk out of short sellers' year-to-date profits with shorts down -$5.38 billion in losses since April 24th,” Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners, said in an emailed note. Data about losses to short-sellers was first reported by Reuters Tesla's ( TSLA ) rally included Monday's 15% climb, set off after Musk, during a surprise visit to China, said the company was expanding its partnership with search heavyweight Baidu BIDU ) as Tesla works on r
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