Tesla short sellers set to pocket about $1.4 billion in profits after stock slump

(Reuters) -Traders will make about $ 1.4 billion paper profits from its short positions. Tesla Stock on Monday after CEO Elon Musk‘A new US political party is planning to launch, increasing concerns about the future commitment to the future.

The company’s shares fell by 7.5% in early transactions after Musk’s political movement, which followed a clear blood feud. Donald Trump Via the US President’s tax cut and expenditure invoice.

According to the data analysis company Ortex, investors who bet against the home manufacturer at a price of 296 dollars make a profit of approximately $ 1.4 billion.

Short sellers had more than $ 4 billion profit hours on June 5th, a day when Tesla saw the largest one -day fall in the market after the conflict of Trump and Musk’s dispute completely into a social media fight.

Tesla’s shares fell by 7.5% from $ 291.50, which has lost more than 21% this year.

(Reporting Shashwat Chauhan in Bengaluru;