Meta's stock jump hits short-sellers with $2.3bn in losses

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

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.