Tesla Lost $38 billion, Automaker's Colossal 2020 Rally

Tesla short-sellers saw $38 billion in mark-to-market losses throughout 2020, Bloomberg reported Thursday, citing S3 Partners data.

Short interest in the company's shares plunged to less than 6% of Tesla's float from nearly 20% at the start of last year.

The losses trounce the $2.9 billion total seen in 2019 and come on the back of Tesla's 740% surge over the past 12 months.

Investors betting against Tesla lost billions last year, as the automaker's shares leaped above nearly all estimates.