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Short sellers pocket $510 million off Elon Musk's pot smoking interview
Short sellers betting against Tesla made more than half a billion off the stock's slide on Friday. After a bizarre video showing CEO Elon Musk smoking pot on a podcast surfaced and a pair of C-level executive resigned, those betting against the company raked in $510 million in mark-to-market profits as Tesla fell more than 5 percent price, according to estimates from Ihor Dusaniwsky, S3's head of predictive analytics. Despite recent gains amid Musk's antics, Tesla short sellers were still in the red for the year unil Friday. Bets they've made against the carmaker as a group, which have drawn the ire of Musk, are now ... (full story)
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