No chief executive likes short-sellers. The practice of betting that a company's shares will lose value is unsurprisingly unpopular if you're trying to run that company.
But none hate them more than Elon Musk. The Tesla chief executive has long waged war on short-sellers, accusing them of trying to destroy his battery and electric car company, arguing that their activities should be illegal and even taking legal action against one critic who was following and photographing some of its cars.
His ultimate revenge, though, came this morning as his fortune swelled by $US2.3 billion ($3.4 billion) in the span of just 60 minutes after shares of Tesla soared on stronger-than-expected fourth-quarter earnings and ramped up production of its Model Y crossover SUV.
The electric-vehicle maker's stock, which closed at $US580.99, surged 12 per cent to $US649 in extended trading hours on Wall Street, boosting the eccentric chief executive officer's net worth to about $US36 billion, according to the Bloomberg Billionaires Index.
No chief executive likes short-sellers. The practice of betting...
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Last
$21.82 |
Change
-0.590(2.63%) |
Mkt cap ! $67.18B | |||
| Open | High | Low | Value | Volume |
| $22.18 | $22.19 | $21.80 | $110.2M | 5.031M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 6 | 11208 | $21.81 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $21.82 | 8653 | 1 |
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| Last trade - 16.10pm 08/07/2024 (20 minute delay) ? |
| FMG (ASX) Chart |