They’re making billions — and Musk can’t stop dragging the brand through the mud.
Short Cake
Tesla short sellers are making bank after CEO Elon Musk announced that he’s doubling down on creating his own political party in the US, further shredding the brand and its tattered valuation.
The company’s shares slumped nearly seven percent on Monday, wiping out more than $68 billion in market cap. Investors who were shorting the EV maker — betting against its success, basically — were on track to reap roughly $1.4 billion in profits, Reuters…
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