Tesla shares (NASDAQ: TSLA) continue their downward trend and have now lost almost two-thirds of their value year-to-date. What was once a nightmare for short sellers during the bull market is now their most profitable trade in 2022. Indeed, Tesla short sellers have profited approximately $15 billion since the start of the year, according to S3 data.
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Investors are clearly not happy with Musk’s Twitter acquisition, as almost $14 billion of short seller profits came after Musk first announced his bid in April.
Overall, Wall Street analysts have a consensus price target of $272.41 on TSLA stock, implying 121.74% upside potential, as indicated by the graphic above.
