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Tesla, Rivian stock surge hits short-sellers with $8bn in losses

Electric vehicle stocks are surging this year amid a rise in demand

Electric car sales are expected to climb by over 35% in 2023
Electric car sales are expected to climb by over 35% in 2023 Photo: Getty Images

The stock surge of electric vehicle manufacturers Tesla, Rivian and XPeng has triggered a fallout of some $8bn for short-sellers.

Between 1 June and 6 July, Tesla short-sellers lost almost $7.6bn as their bets against the world’s largest electric vehicle manufacturer went wrong, according to financial analytics provider ORTEX.

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