Hedge Funds

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.

WSJ Logo
How Trump Got His ‘Big, Beautiful Bill’ Across the Finish LineExternal link

How Trump Got His ‘Big, Beautiful Bill’ Across the Finish Line