Tesla plunges 15%, short sellers make over $4 billion in a single day

Glonghui, July 24 — Tesla fell as much as 15% on Thursday, marking its biggest intraday drop in over a year. Previously, the company's second-quarter profit missed expectations, once again raising market concerns about its AI and robotics ambitions. Ihor Dusaniwsky, Managing Director at S3 Partners, stated that this sell-off means investors betting against Tesla's stock price stand to gain approximately $4.12 billion in single-day mark-to-market profits. According to S3 data, about 3% of Tesla shares are sold short.