Traders have lost billions betting against Tesla
2017 has been a brutal year for traders betting against Tesla.
The stock has soared 46% so far this year, and has caused billions of dollars of losses for those who have bet against it.
The damage inflicted on short sellers has been especially pleasing to Tesla CEO Elon Musk, who earlier this month tweeted, "Stormy weather in Shortville ..." on a particularly bad day for Tesla shorts.
The short trade in Tesla was supposed to be a slam dunk.
The company delivered 76,230 vehicles in 2016, well below the 80,000 to 90,000 that Wall Street was expecting.
"Our Q4 delivery count should be viewed as slightly conservative, as we only count a car as delivered if it is transferred to the customer and all paperwork is correct," the company said in a statement at the time of the release in an effort to deflect criticism surrounding the shortfall.
Additionally, Tesla was burning through cash at an alarming rate.
http://www.businessinsider.com/traders-have-lost-billions-of-dollars-betting-against-tesla-2017-4