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Expand chart
Data: S3 Partners; Chart: Naema Ahmed/Axios

Tesla's stock has had an awful 2019, sinking more than 20% while the S&P has risen by nearly that much.

Driving the news: Tesla's first quarter results likely did little to interrupt that trend. The company announced a larger-than-expected $702 million loss, with revenue coming up short as well.

Quick take: The whole year already has been like Christmas for short sellers, many of whom have suffered considerable losses betting against CEO Elon Musk and Tesla over the years. For some of them, it's personal.

  • "I hate the guy," Mark Spiegel, founder of Stanphyl Capital, told me late last year. He's been short Tesla for years and said he added to his position after Musk's now infamous "funding secured" tweet.

The other side: Musk feels just as strongly about Tesla short sellers and has lashed out at them repeatedly.

What's happening: As 2019 has gone on, others have jumped on the bandwagon, bringing short interest in the company to more than $9 billion, according to data from S3 Partners. It's now the second most shorted company in their fund universe, behind Apple.

  • Musk's most recent promise to get 1 million self-driving Tesla robotaxis on the road by next year has been a particularly generous gift to short sellers. Tesla short sellers made $334 million in mark-to-market profits the 2 days following the announcement and are up $1.91 billion so far this year.

What to watch: "There are no short squeezes on the horizon," says S3's Managing Director of Predictive Analytics Ihor Dusaniwsky, "and even more short sellers may enter the trades if they start sensing blood in the water."

Go deeper: How Tesla lost its minotaur soul

Go deeper

3 hours ago - Politics & Policy

Trump to issue at least 100 pardons and commutations before leaving office

Photo: Mandel Ngan/AFP via Getty Images

President Trump plans to issue at least 100 pardons and commutations on his final full day in office Tuesday, sources familiar with the matter told Axios.

Why it matters: This is a continuation of the president's controversial December spree that saw full pardons granted to more than two dozen people — including former Trump campaign chair Paul Manafort, longtime associate Roger Stone and Charles Kushner, the father of Trump's senior adviser and son-in-law, Jared Kushner.

  • The pardons set to be issued before Trump exits the White House will be a mix of criminal justice ones and pardons for people connected to the president, the sources said.
  • CNN first reported this news.

Go deeper: Convicts turn to D.C. fixers for Trump pardons

Schumer's m(aj)ority checklist

Senate Minority Leader Chuck Schumer. Photo: Tasos Katopodis/Getty Images

Capitalizing on the Georgia runoffs, achieving a 50-50 Senate and launching an impeachment trial are weighty to-dos for getting Joe Biden's administration up and running on Day One.

What to watch: A blend of ceremonies, hearings and legal timelines will come into play on Tuesday and Wednesday so Chuck Schumer can actually claim the Senate majority and propel the new president's agenda.

The dark new reality in Congress

National Guard troops keep watch at security fencing. Photo: Kent Nishimura/Los Angeles Times via Getty Images

This is how bad things are for elected officials and others working in a post-insurrection Congress:

  • Rep. Norma Torres (D-Calif.) said she had a panic attack while grocery shopping back home.
  • Rep. Jim McGovern (D-Mass.) said police may also have to be at his constituent meetings.
  • Rep. Adam Kinzinger (R-Ill.) told a podcaster he brought a gun to his office on Capitol Hill on Jan. 6 because he anticipated trouble with the proceedings that day.