Tesla short sellers are up $1.2 billion since Elon Musk’s ‘going-private’ tweet Investors betting that Tesla Inc. stock will fall appear to be having the last laugh, at least for now.
Tesla TSLA, -8.93% short sellers are up $1.2 billion in paper gains since the day Chief Executive Elon Musk tweeted he was “considering” taking the company private at $420 and funding was “secured,” S3 Partners LLC, which tracks real-time short interest data, said in a note Friday.
Musk shocked markets with that tweet on Aug. 7, the first of many that day and which was followed by an email to employees explaining his reasons for wanting to take Tesla private. That day the shorts got walloped.
The tweet has sparked a U.S. Securities and Exchange Commission probe and doubts have grown around the funding to cinch a going-private deal.
Tesla shares are off 20% since the $379.57 close on Aug. 7, including a 9% loss Friday on the heels of an interview on the New York Times in which Musk describes his “ex..
Alibaba earnings: Spending for a future beyond e-commerce Alibaba Group Holding Ltd. dominates online shopping in China, but the company has bigger plans in mind.
The Chinese e-commerce giant is investing aggressively as it tries to profit from more aspects of the retail experience, including food delivery and physical stores. These are part of Alibaba’s BABA, +0.46% “new retail” initiatives, which are meant to merge online and offline commerce.
“We think Alibaba is years ahead of any competitor in driving digital commerce forward,” MKM Partners analyst Rob Sanderson, who rates the stock a buy with a $280 target price, wrote earlier this summer. “Of greater consequence is Alibaba’s foray into digitizing offline commerce (new retail), which we think is even further ahead and has potential to multiply Alibaba’s addressable market.”
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