Tesla's share price rose for 11 consecutive days, and short sellers lost more than $6 billion.

According to CTOnews.com news on June 11, Tesla's share price has risen strongly recently, up about 35% since May 24, causing huge losses to bears betting on the company's decline.

According to financial data, analysis and services company S3 Partners, Tesla's paper losses during this period reached $6.08 billion (CTOnews.com Note: currently about 43.35 billion yuan). Short sellers borrow shares and sell them in the hope that the price will fall. Then they buy back the shares at a lower price, return them to lenders, and pocket the difference.

Ihor Dusaniwsky, head of forecasting and analysis at S3 Partners, said Tesla is currently the most shorted stock in the world, with a total of $22.43 billion being shorted. Although Tesla's share price soared, the bears did not stop, but continued to increase their bets. "short sellers do not believe that long buying will continue to support share prices and believe that a price correction is inevitable," Dusaniwsky said. Since 2023, traders have shorted an additional 15.3 million Tesla shares, worth $3.6 billion. Over the past 30 days, short bets have expanded further, with another 1.3 million shares worth $303 million being shorted, while Tesla's share price has risen 39 per cent over the same period.

Tesla's recent rise has been driven in part by its North American charging Standard (NACS), which has been adopted by Detroit giants such as Ford and GM and will be applied to their upcoming electric vehicles, and the market has high hopes for Tesla's much-anticipated revamped model of the Model 3. Tesla shares closed up 4.4 per cent at $245.08 on Friday after hitting their highest level since early October.