LONDON (Reuters) – Investors are estimated to have won billions of dollars in their bearish bets on Tesla and major technology stocks in the recent sale of goods caused by a jump in US Treasury yields, they showed on Tuesday the data of the financial analysis firm Ortex.
Tesla was the biggest win for short sellers, giving them an estimated $ 4.2 billion profit through 2021, followed by gains of more than $ 1 billion each from Zoom Video and Apple, according to Ortex.
However, they were burned by betting against video game maker Gamestop. The company, which was at the heart of the so-called “stonks” retail craze, has jumped another 400% in the past two weeks as amateur investors have re-entered.
GameStop’s e-commerce strategy plans were boosted by this week’s renewed gains in January “meme” stocks, along with speculation that small investors will use their upcoming stimulus controls to trade.
In other major bets, investors won nearly $ 1 billion from the shortening of QQQ, an ETF that tracks the performance of the Nasdaq 100. The technology benchmark hit the correction territory on Monday and fell more than 10% of record highs.
Reports by Thyagaraju Adinarayan; edition by Sujata Rao