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Tesla short-sellers back in force as shares remain shaky

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Tesla short-sellers back in force as shares remain shaky

NEW YORK (Reuters) - The number of Tesla Inc (TSLA.O) shares sold short has rebounded and are now higher than before CEO Elon Musk proposed on Tuesday taking the electric car maker private, according to data from financial technology and analytics firm S3 Partners. As of Thursday, 34.75 million Tesla shares were sold short, up from 34.67 million shares on Monday, S3 data showed. Tesla is the most shorted U.S. stock. Short-sellers aim to profit by selling borrowed shares, hoping to buy them back later at a lower price. Short-sellers racked up paper losses of $1.3 billion on Tuesday after Tesla shares rallied 11 percent. Since then, the shares have given up all the gains and short-sellers have