Short sellers in the US stock market suffered a massive loss of $195 billion last year! Regional banks have become profitable tools, while shorting Tesla has resulted in devastating losses.
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In 2023, the bear market suffered huge losses, with short positions in US stocks losing $195 billion last year. However, regional banks and vaccine manufacturers in the United States stood out in the bear market, becoming the most profitable bearish bets. First Republic Bank and Moderna made $1.6 billion and $1.2 billion respectively. However, the bearish bets on large tech companies resulted in heavy losses, with Tesla's short position losses reaching $12.2 billion. Overall, the bear market's book losses at the end of 2023 amounted to nearly $195 billion, offsetting two-thirds of their earnings in 2022.
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