Tesla short sellers lose $1 bn in a day as stock surges 10%

Short sellers betting against Tesla lost $1.1 billion on Wednesday as the carmaker's shares surged 9.7%, according to S3 Partners. This came after CEO Elon Musk told shareholders Tesla may exceed goal to make 5,000 Model 3 sedans a week by June-end. In May, Musk tweeted that "short burn of the century" was coming soon for those betting against Tesla.