Tesla share price: is there more for short sellers to lose?
Tesla short sellers have lost more than $8 billion over the last seven months and with the stock up 15% since the start of the new year that figure continues to rise.
Over the last seven months, Tesla has cost short sellers more than $8 billion, according to financial analytics firm S3 Partners.
And with the electric car maker’s share price up 15% since the start of the new year it could end up costing them even more money, with short sellers losing more than $700 million in just the first two trading sessions of 2020.
‘Some of short-term shorts have been taken out,’ said Ihor Dusaniwsky, head of predictive analytics at S3 in an interview with CNN. ‘But many of the longer-term shorts, they're sticking with it no matter what the price moves are.’
Tesla delivers record production and sales in Q4
Tesla ended 2019 on a high, delivering record production and deliveries during its fourth and final quarter of the year – selling around 367,500 vehicles in total.
In 2020, the electric car marker is focused on expanding production in the US and China, with Tesla producing close to 1000 cars at its Shanghai factory.
Looking to trade Tesla and other stocks? Open a live or demo account with IG.
Argus Research raises 12-month price target for Tesla
Argus Research analyst Bill Selesky raised his 12-month price target for Tesla from $396 to $556 a share on Tuesday – making him the most bullish analyst on Wall Street, with his target implying an 18% upside for the stock.
‘We are raising our 2020 EPS estimate to $5.96 from $4.40 to reflect improved economies of scale in 2020 production and delivery results and a better-than-expected ramp-up of vehicles produced at the Shanghai factory in China,’ Selesky said in a note.
Tesla closed at $469 a share on Tuesday.
You can go long or short Tesla with IG using derivatives like CFDs.
This information has been prepared by IG, a trading name of IG Markets Ltd and IG Markets South Africa Limited. In addition to the disclaimer below, the material on this page does not contain a record of our trading prices, or an offer of, or solicitation for, a transaction in any financial instrument. IG accepts no responsibility for any use that may be made of these comments and for any consequences that result. No representation or warranty is given as to the accuracy or completeness of this information. Consequently any person acting on it does so entirely at their own risk. Any research provided does not have regard to the specific investment objectives, financial situation and needs of any specific person who may receive it. It has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such is considered to be a marketing communication. Although we are not specifically constrained from dealing ahead of our recommendations we do not seek to take advantage of them before they are provided to our clients. See full non-independent research disclaimer and quarterly summary.
Seize a share opportunity today
Go long or short on thousands of international stocks.
- Increase your market exposure with leverage
- Get spreads from just 0.1% on major global shares
- Trade CFDs straight into order books with direct market access
Live prices on most popular markets
- Forex
- Shares
- Indices
Prices above are subject to our website terms and agreements. Prices are indicative only
