Tesla’s stock price has risen for 13 consecutive trading days, with a total market value of about 58 trillion yuan

Tesla's stock price has risen for 13 days straight, with a market value of around 58 trillion yuan

【PhoneAuto News】On June 14th, PhoneAuto noticed that on June 13th, local time, the three major US stock indexes collectively closed higher, with the Dow up 0.43%, the Nasdaq up 0.83%, and the S&P 500 up 0.69%. Popular technology stocks rose across the board, among which Tesla rose more than 3% and has risen continuously for 13 trading days. It is currently trading at $258.71 per share, with a total market value of $819.982 billion. Non-ferrous metals and automobile manufacturing sectors saw the highest gains. In addition to Tesla, the stock prices of Rivian, Fisker, and Toyota also saw gains.

Previously, some media reported that when Tesla’s stock price had risen for 11 consecutive days, short sellers who sold their stocks suffered huge losses. According to S3 Financial Data Company’s statistics, during the previous round of upward trend, short-selling institutions had lost about $6.08 billion. And at present, with Tesla’s stock price continuing to rise, the losses of short-selling institutions should be higher than the previous $6.08 billion.

According to the predictive analysis business director at S3 Financial Data Company, Ihor Dusaniwsky, a total of 15.3 million Tesla shares worth about $3.6 billion have been shorted by professional institutions from the beginning of 2023 until now. In the past 30 days, short-selling institutions have continued to be bearish on Tesla’s stock, and 1.3 million shares worth $303 million have been shorted. The short-selling scale has increased by 1.4%, but Tesla’s stock price has risen by 39% during this period, which has disappointed the short-selling institutions.

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