Stock Markets Today Live Updates: Hedge funds that piled into big Tesla short stung by huge rally
In the latest market news today, hedge funds that had a significant short position on Tesla were stung by a huge rally in the stock. About 18% of the 500-plus hedge funds tracked by data provider Hazeltree had an overall short position on Tesla at the end of June, the highest percentage in more than a year.
The rally in Tesla’s stock price caught many hedge funds off guard, leading to significant losses for those who had bet against the electric car maker. The stock’s surge has been attributed to strong sales numbers, positive sentiment around the company’s future growth prospects, and overall market momentum.
Investors and market watchers are closely monitoring the situation, as the performance of hedge funds in the Tesla short position could have broader implications for the market. The outcome of this situation will provide valuable insights into the dynamics of the market and the risks associated with short selling.
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