Tesla share price: is there more for short sellers to lose?

Tesla short sellers have lost more than $8 billion over the last seven months and with the stock up 15% since the start of the new year that figure continues to rise.

Over the last seven months, Tesla has cost short sellers more than $8 billion, according to financial analytics firm S3 Partners.

And with the electric car maker’s share price up 15% since the start of the new year it could end up costing them even more money, with short sellers losing more than $700 million in just the first two trading sessions of 2020.

‘Some of short-term shorts have been taken out,’ said Ihor Dusaniwsky, Head of Predictive Analytics at S3 in an interview with CNN. ‘But many of the longer-term shorts, they're sticking with it no matter what the price moves are.’

Tesla delivers record production and sales in Q4

Tesla ended 2019 on a high, delivering record production and deliveries during its fourth and final quarter of the year – selling around 367,500 vehicles in total.

In 2020, the electric car marker is focused on expanding production in the US and China, with Tesla producing close to 1,000 cars at its Shanghai factory.

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Argus Research raises 12-month price target for Tesla

Argus Research analyst Bill Selesky raised his 12-month price target for Tesla from $396 to $556 a share on Tuesday – making him the most bullish analyst on Wall Street, with his target implying an 18% upside for the stock.

‘We are raising our 2020 EPS estimate to $5.96 from $4.40 to reflect improved economies of scale in 2020 production and delivery results and a better-than-expected ramp up of vehicles produced at the Shanghai factory in China,’ Selesky said in a note.

Tesla closed at $469 a share on Tuesday.

You can go long or short Tesla with IG using derivatives like CFDs and spread bets.


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