Traders betting against Nvidia suffered massive losses as the chipmaker’s stock surged to a record high after it forecasts sales that far surpassed the average analyst estimate. From a report: Short sellers are facing $2.3 billion in paper losses on Thursday alone amid the tech giant’s 27% intraday jump, data from S3 Partners LLC show. That’s pushed mark-to-market losses for the contrarian traders to $8.1 billion in 2023 as Nvidia’s price has more than doubled this year.

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Source: Slashdot – Nvidia Short Sellers Lose .3 Billion in One Day as Stock Soars