Investors Betting Against Tesla Made $1 Billion on Friday [The New York Times]
Tesla, Inc. (TSLA)
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Source: The New York Times
Image The slide in Tesla’s shares after Elon Musk’s interview with The New York Times generated more than $1 billion in profits for short-sellers. Credit Toru Hanai/Reuters By Stephen Grocer Aug. 17, 2018 Get the DealBook newsletter to make sense of major business and policy headlines — and the power-brokers who shape them. __________ The investors betting against Tesla just got a gift from the company’s chief executive, Elon Musk. Mr. Musk opened up on Thursday in an emotional interview with The New York Times about the toll the past year has taken on him, blaming those so-called short-sellers for much of his stress. It followed his cryptic tweet last week about converting the publicly traded company into a private one, which created a frenzy in the market. The day after the interview, the stock of the electric-car maker tumbled 9 percent to $306. Those losses were gains for the short-sellers. The slide in Tesla’s shares generated more than $1 bi
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