Tesla short sellers retreat following meteoric surge

Opting to short Tesla is not wrong in principle, but Elon Musk is "better at playing the public company game than anybody I've ever seen," says founder of Muddy Waters Capital.

Photo: Aly Song/REUTERS / X01793

Weary short sellers have unwound most of their bets against Tesla, as retail investors unaffected by Twitter polls and talk of stock market bubbles continue to funnel cash into the world's most valuable car company, writes Financial Times.

According to data provider S3 Partners, short positions in Tesla have fallen to 3.3 percent from 19.6 percent at the start of 2020. The amount of shorts in the company has decreased by close to 80 percent to 27 million shares over the same period.

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