Investors betting against Tesla stock have taken a beating so far in 2023 as the stock has soared as much as 110% from its January 6 low.
The losses for short-sellers betting against Elon Musk's electric vehicle company have ballooned to $7.6 billion over the past month, making it the least profitable short position for hedge funds, according to data from S3 Partners.
The swift one-month surge in Tesla stock has wiped out about half of the gains short-sellers made last year betting against the company. At the end of December, short-sellers had made a $15 billion profit in 2022, making Tesla the most profitable short of the year.
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