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Technology stock rout helps fuel recovery for short sellers

January 9, 2023
Source: afr.com afr.com
News Snapshot:
Tesla’s share price dropped 65 per cent in 2022, providing the biggest payout of last year for short sellers with mark-to-market profits of $US15.8 billion. Tesla bears feasted while Elon Musk sold almost $US23 billion of his holdings in the electric-car maker to fund his takeover of Twitter – a deal that itself resulted in losses of more than $US500 million for short sellers in the social media stock last year after the board sued Musk to adhere to his original $US44 billion offer. “Twitter shorts got clobbered by Elon Musk’s purchase,” said Mr Dusaniwsky. Tech stocks put in an...
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Tags: advertising | bitcoin | blockchain | car | China | Chinese | Covid-19 | crypto | currency | Economy | electric vehicle | Elon Musk | ETF | European | finance | fintech | Oil | social media | Software | stock market | stocks | technology | Tesla | Twitter | United Kingdom

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