Dow trims gains as Bessent predicts imminent US-China tariff de-escalation

Short sellers in Tesla have made $11.5 billion in 2025 and are counting on even more gains, according to short selling research specialist S3 Partners. Tesla reports first-quarter financial results after the market close on Tuesday.

“A technical ‘cup and handle’ formation in short interest may signal further bearish pressure. With options pricing a 9% move [up or down], and shorts already sitting on $11.5B in YTD gains, positioning remains heavily tilted against the stock,” according to S3′s Matthew Unterman.

Tesla is down 44% so far in 2025, while the number of shares sold short—borrowed and sold in the hope that they’ll be repaid later, at a lower cost, has climbed by 10 million, or 15%, S3 said in a note out Tuesday.