Meta's stock jump hits short-sellers with $2.3bn in losses
5 Feb 2024
Financial News
Meta’s stock jump hits short-sellers with $2.3bn in losses
Meta’s market value jumped $200bn on 2 February following strong results
Monday, 5 February 2024 at 15:05
Meta boss Mark Zuckerberg’s personal wealth soared by $28bn following Meta’s latest financial results Photo: Anna Moneymaker/Getty Images
Short-sellers got their hands burned by the recent Meta rally as their multi-billion dollar bets against Mark Zuckerberg’s tech empire soured.
Short-sellers lost roughly $2.3bn from their positions against Meta on 2 February after the tech firm posted better-than-expected financial results, according to financial analytics provider Ortex.
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