'Oh damn, I got my butt kicked': Tesla shorts are reeling from the 350% stock rally
"Oh damn, I got my butt kicked" is a common sentiment among short-sellers, Robert Majteles"It's the biggest set of losses that I've ever taken in 20 years," the private investor, who closed his negative position this month, told the newspaper.
Tesla shares have surged 350% in the past six months, and touched an all-time high of over $900 last week. They were up 8.5% at $810 in early trading on Monday. The gains are bad news for short-sellers, who"Tesla is my widowmaker," Amy Wu Silverman, a managing director at RBC Capital Markets who bought negative put options on the stock, told The Journal.have hit their pain thresholds and halted their bets against Tesla.
"This is a car company, yes a higher-end one, but it's still a car company, with the same low margins of other auto makers," Chanos told the newspaper. He added that Tesla's recent profits reflect its sales of tax credits rather than cars. Tesla accounts for around 2% of the portfolio of Chanos' hedge fund, Kynikos Associates, The Journal said, citing people close to the matter.
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