Short sellers, who invest betting on a decline in share values, are on track for their first yearly gain since 2018. According to an S3 report, they have logged nearly $304 billion in realized and unrealized gains, a fourfold increase compared with 2018, their most recent profitable year.
Tesla (NASDAQ: TSLA) has generated the most dollar gains for those with short interests. Other top winners for shorts include Amazon (NASDAQ: AMZN), Meta Platforms (NASDAQ: META), Apple Inc. (NASDAQ: AAPL) and Carvana Co (NYSE: CVNA). The S&P 500 is down almost 19% this year and on track for its biggest yearly percentage loss since 2008 after the Federal Reserve’s most aggressive interest rate hike in decades led to a bearish investment market.
