Tesla's surging stock has cost short sellers $3 billion this month (TSLA)

Reuters / Rebecca Cook

• Despite the surge in its stock price, Tesla remains the most shorted US equity.
• Investors betting against Tesla have lost $3 billion in August alone.
• Follow Tesla's stock price in real-time here.

The "short burn of the century" that Tesla CEO Elon Musk promised back in May may have finally happened.

Tesla's 27% surge this month, fueled by Musk's cryptic tweet Tuesday about taking the company private at $420 a share, has cost short sellers — the investors betting against Tesla's stock — at least $3 billion, according to data from the financial-analytics firm S3 Partners.See the rest of the story at Business Insider

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SEE ALSO: Tesla’s current fundamentals don’t support a valuation ‘anywhere close’ to $420, one bear says