Hedge funds shorting Tesla just lost more than $5 billion

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Hedge funds shorting Tesla just lost more than $5 billion - Business Mirror

Quick Summary:

Since Donald Trump’s election win, the hedge funds clinging on to bets against Tesla Inc.have lost billions of dollars, as they feel the fallout of the special relationship between the president-elect and Elon Musk.

Notwithstanding the connection between the president-elect and Musk, “Trump’s win is very negative for Tesla as an auto company,” Lekander said.

Lekander says that in a little over a year from now, he expects even Tesla will feel the sting of Trump’s anti-climate policies.