Tech & Science : Tesla short-sellers lost $1.4 billion after the company reported a surprise profit — erasing 70% of their gains for the year - - PressFrom - Australia
  •   
  •   

Tech & Science Tesla short-sellers lost $1.4 billion after the company reported a surprise profit — erasing 70% of their gains for the year

07:40  28 october  2019
07:40  28 october  2019 Source:   businessinsider.com.au

One of Tesla's most vocal investors sold more than $39 million of the stock ahead of the company's earnings report

  One of Tesla's most vocal investors sold more than $39 million of the stock ahead of the company's earnings report A RK Investment Management, a relatively small but extremely vocal supporter of Tesla, has trimmed its stake by 150,000 shares ahead of the company's earnings report to be released Wednesday.Since October 1, the firm, which has a $US6,000 ($AU8,737) price target for shares of Elon Musk's electric car company, has sold roughly 154,000 shares of Tesla, worth roughly $US39 million ($AU57 million) at Monday's prices. The sales were voluntarily disclosed by ARK, which publishes all of its intra-day trades in email updates and on a regularly-updated website.

The losses erased almost 70 % of Tesla short - sellers ' gains for the year . With about .31 billion in short interest, Tesla is the second-most shorted stock "Shorts were reducing their exposure in the event of a strong earnings report ," Ihor Dusaniwsky, managing director of predictive analytics at S3

The company did not immediately respond to a request for comment on the lawsuit Thursday. The attorneys representing Awan's family allege that Awan did not die from Tesla short - sellers lost $ 1 . 4 billion after the company reported a surprise profit — erasing 70 % of their gains for the year .

Elon Musk wearing a black shirt
  • Traders betting against Tesla got crushed Thursday morning after the electric-car manufacturer reported a surprise earnings beat on Wednesday.
  • According to data from financial-analytics provider S3 Partners, Tesla short-sellers absorbed $US1.4 billion in mark-to-market losses after shares rallied as much as than 20%.
  • The gains wiped out close to 70% of Tesla short-sellers' profits for the year, S3 wrote in a research note Thursday.
  • Watch Tesla trade live on Markets Insider.

Traders betting against Tesla got clobbered Thursday after the company posted an unexpected profit for the third quarter.

NSW pokie profits now as big as the GDP of a south Pacific nation

  NSW pokie profits now as big as the GDP of a south Pacific nation NSW poker machine profits are sailing towards the GDP of Fiji topping $6.5 billion in the year to June 2019.The surge in profit is largely attributable to a boom in pubs. Greater Sydney hotels raked in $1 billion of pokie profit in the six months to June, while clubs maintained a near $2 billion profit, according to the latest data released by Liquor & Gaming.

Tesla short - sellers lost $ 1 . 4 billion after the company reported a surprise profit — erasing 70 % of their gains for the year . Global Senior Director, 1:1 Services. Nike. Oct 2017 – Present2 years 1 month. Portland, Oregon Area.

Tesla short - sellers lost $ 1 . 4 billion after the company reported a surprise profit — erasing 70 % of their gains for the year (TSLA). But the Duke professor who created it told us everyone should still be prepared for the worst. Oct 24, 2019.

Short-sellers, who aim to make money by wagering that a stock will fall, lost $US1.4 billion after Tesla shares soared as much as 20%, according to data from financial-analytics provider S3 Partners. The losses erased almost 70% of Tesla short-sellers' gains for the year.

With about $US8.31 billion in short interest, Tesla is the second-most shorted stock in the US equity market behind Apple, according to S3.

Over the last month, Tesla short interest has fallen by 5.12 million shares, or about 13.6% of total shares shorted, S3 added.

"Shorts were reducing their exposure in the event of a strong earnings report," Ihor Dusaniwsky, managing director of predictive analytics at S3, wrote in a note Thursday.

He continued: "We are expecting more short covering and the continuation of this long-term short squeeze as TSLA's stock price continues to show strength."

Amazon Web Services is 'evaluating options' after Microsoft wins $10 billion JEDI contract out from under its nose

  Amazon Web Services is 'evaluating options' after Microsoft wins $10 billion JEDI contract out from under its nose Microsoft was officially awarded the $US10 billion JEDI cloud contract with the Pentagon on Friday - marking a big victory over Amazon, believed to be the frontrunner. Amazon Web Services, the Seattle-based company's multibillion-dollar business, is dominant in the market. AWS is "still evaluating options" after the decision, according to a source close to the situation. It's a big loss for AWS, which drives profit for the entire Amazon empire. Visit Business Insider's homepage for more stories.

Tesla shares dropped Thursday after Consumer Reports said it could no longer recommend the Model 3 due to a variety of problems the publication's members have Tesla short - sellers lost $ 1 . 4 billion after the company reported a surprise profit — erasing 70 % of their gains for the year (TSLA).

Tesla short - sellers lost $ 1 . 4 billion after the company reported a surprise profit — erasing 70 % of their gains for the year . Liked by Sonali Chitre. I enjoyed a short course with good contents on FinTech from Harvard, concluded and completed mid Oct 2019. #fintech #harvard #shortcourse

Leading up to Tesla's third-quarter earnings report, analysts and investors were concerned about the company's path back to profitability, which has long been a key debate around the stock.

The electric-car manufacturer surprised Wall Street with a profit per share of $US1.91, compared to an expected loss per share of 24 cents.

Tesla CEO Elon Musk has been an outspoken critic of short-sellers in the past, arguing they decrease the true equity return of the stock.

Tesla shares are still down about 11% year-t0-date.

a screenshot of a cell phone

Two of Tesla's boldest bets are paying off, Model 3 customers say .
Tesla's stores and charging stations have distinguished the electric-car maker from its competitors, who outsource sales to third-party dealerships and have not yet built an electric-vehicle charging network that rivals Tesla's.Three-quarters of respondents said they were very satisfied with the process of buying their vehicle from Tesla, relative to the process of buying from a traditional dealership. And over 60% of respondents said they were very satisfied with the availability, price, and speed of Tesla's Supercharger stations.

—   Share news in the SOC. Networks

Topical videos:

usr: 4
This is interesting!