Tesla shares plunged up to 15% after weak quarterly earnings, triggering about $4.1 billion in one-day gains for short sellers. Concerns over AI spending, high valuation, and soft auto margins weighed on sentiment, though retail investors continued buying and some analysts see the decline as a long-term opportunity.
Tesla shares plunged up to 15% after weak quarterly earnings, triggering about $4.1 billion in one-day gains for short sellers. Concerns over AI spending, high valuation, and soft auto margins weighed on sentiment, though retail investors continued buying and some analysts see the decline as a long-term opportunity.
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The deep plunge in Tesla Inc.’s stock on Thursday is turning into a major payday for its short sellers.Shares of Elon Musk’s electric-vehicle maker fell as much as 15% Thursday, their worst intraday drop in more than a year, after second-quarter profit missed expectations and reignited concerns about the company’s artificial intelligence and robotics ambitions.The selloff has left investors betting against the stock poised to make about $4.12 billion in one-day mark-to-market profits, according…
