Tesla short sellers have made nearly $7 billion so far this year

Bill Gates wasn’t the only investor to make big money betting against Tesla. As it turns out, short-sellers reaped nearly $7 billion in profits from their bets against the electric vehicle manufactures between the start of 2022 and Friday.

Data provided by Ortex Research showed that through Friday’s session, investors with the temerity to bet against the electric vehicle juggernaut – a trade that has produced painful losses for many a Tesla bear in recent years – had earned $6.8 billion in realized and unrealized gains since the start of 2022.

To put all this in context: Tesla shares TSLA are down more than 28% since the start of the year, but at one point the company’s shares had shed roughly half of their value. Of course, Tesla wasn’t the only major tech stock to help short sellers book market-beating gains. Investors who bet against the Nasdaq-100’s roster of 102 stocks, a group that’s heavily weighted toward tech, earned more than $60 billion gains, either realized or on paper, between the start of the year and Thursday. The Nasdaq-100 is down more than 22% since the start of the year.

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