Hedge funds that piled into big Tesla short stung by huge rally
Mon, Jul 8, 2024 1:35 PM

Hedge funds that piled into big Tesla short stung by huge rally

A Flip by Shubhangi Gupta
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Hedge funds increased their short bets on Tesla to 18% in June, the highest in over a year, according to Hazeltree data. However, Tesla's strong Q2 delivery results and lower production costs have driven the company's shares up 40% since June, threatening losses for the hedge funds. The electric vehicle industry faces uncertainty, with conflicting dynamics.

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