Tesla Short Sellers Rack Up $11.25 Billion in Mark-to-Market Losses in 2020

Ihor Dusaniwsky of S3 partners fame has the latest update on the misadventures of the Tesla shorts:

That’s right: in aggregate, short sellers have lost $11.25 billion shorting Tesla in 2020 alone. That’s rough. You’d think all this chaos would be good for the shorts, but apparently they still found a way to lose money anyway.

To put this number into context, if you add up all of Tesla’s losses since the company was founded in 2003 you get about $6.1 billion. That means short sellers –– who call Tesla a “cash burning fraud” –– have lost nearly double what it cost to build Tesla this year alone. 2020 isn’t even halfway over! If Tesla is a cash burning fraud, what does that make you?

The sad thing is, short sellers could have taken that money and used it to build two car companies like Tesla. Instead they decided to blow it on shitputs, transferring their hard earned wealth to people like Ross Gerber.

Everyone loses money, but many of these online trolls harassed and attacked Tesla customers, blinded by a pernicious swarm of misinformation and groupthink that clouded their sense of right and wrong. From my perspective, this is a far greater loss than the financial hit: It’s much easier to make back money than rebuild your character.

I wish TSLAQ the best of luck on their future short bets. I’m sorry for your loss, and I mean that sincerely.

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