Tesla shares gained more than 20% in the last two weeks making life extremely difficult for short sellers.

According to data from S3 partners, Short sellers have lost nearly $2.4 billion this month. Despite the losses, shorts are refusing to back away from the fight as they increased their wager in the past few weeks.

Tesla short interest now reads a record $12.6 billion, a 15.5% increase since May 25.

June 12, 2018: Tesla short interest – $12.6 billion, 37.9 million shares (29.9% of float)
May 25, 2018: Tesla short interest – $10.9 billion, 39.03 million shares (31% of float)


“In all of 2017, they (short-sellers) were down $3.4 billion. To lose $2 billion in a month, stands out as one of the biggest losses for a stock that I have seen,” said Ihor Dusaniwsky, head of research at S3 in New York.

“With almost 80 million shares traded in June this slight short covering did not move ‘s stock price, long buying demand pushed up the price not a short squeeze.” said Dusaniwsky

Welcome to the short burn of the century.

Chart Source: Morningstar