On October 24, Tesla (TSLA.O) stock went on an epic climb, hitting $250, with an intraday increase of over 17%. This surprise move is setting off waves across the market, particularly affecting short-seller ETFs that were betting against the electric car giant.
Tesla's Explosive Rally
- Monumental rise: Tesla shares have not only broken barriers, but have sent a clear message of strength to the market, exceeding expectations and sending investors into a state of euphoria.
- What caused this boom?: Tesla continues to surprise with its resilience amid uncertainties, consolidating its place as a key player in the transition to electric vehicles. This rally is attributed to investors' confidence in its future.
Short ETFs collapse
- Brutal impact on ETFs: ETFs that were betting against Tesla, such as double shorts, faced chaos. One of the most relevant ones suffered a massive 32% drop, reaching the point of a temporary suspension due to extreme volatility.
- Lesson on leveraged ETFs: This event demonstrates the high risk of these financial products, which can be devastating for investors who bet against giants like Tesla.
Tesla dominates the financial landscape
This surge in Tesla's value not only shakes Wall Street, but redefines the market narrative. The company led by Elon Musk continues to be an unstoppable force, and its ability to generate these kinds of massive movements is a clear sign of its global influence.
