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Tesla short sellers set to pocket about $1.4 billion in profits after stock slump

Summary by The Economic Times
Traders are set to make about $1.4 billion in paper profits from their short positions in Tesla shares on Monday after CEO Elon Musk's plans to launch a new U.S. political party heightened concerns about his commitment to the company's future.

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The shares of the electric vehicle manufacturer Tesla retreated close to 7% in Monday's stock exchange session in the Nasdaq, erasing nearly $70 billion in market capitalization.The decline occurs after its executive director, Elon Musk, who was an adviser to the U.S. president and friend, said he is forming a new U.S. political party, which provoked an angry response from President Donald Trump.The titles of the technology company fell 6.80% an…

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The Economic Times broke the news in on Monday, July 7, 2025.
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