Tesla's share price plunged and short sellers are expected to make more than $4 billion in a single day on paper

On July 24, Tesla's share price fell sharply on Thursday, and short sellers are expected to make a fortune. Shares of the electric vehicle maker, led by Elon Musk, fell 15% on Thursday, the largest intraday decline in more than a year. Previously, the company's second-quarter profit fell short of expectations, once again triggering concerns about its artificial intelligence (AI) and robot ambitions. Ihor Dusaniwsky, managing director of S3Partners, said the sell-off made investors betting on a decline in Tesla's share price expected to earn a single-day mark-to-market profit of approximately $4.12 billion. S3 data showed that about 3% of Tesla's shares were sold short.