The market’s rapid bounce back to near-record highs over the past month has not been kind to investors betting against US stocks.

From the market bottom on April 8 through May 20, short sellers have lost more than $250 billion, according to data from S3 Partners. All of the “Magnificent Seven” stocks were among the top 20 names on which short investors lost the most money. Shorts on Nvidia (NVDA) and Tesla (TSLA) lost more than $19 billion combined during the period.

Both Nvidia and Tesla have benefited from individual catalysts throughout the run. For Nvidia, easing trade restrictions have been a boost for the AI chip leader headed into its next earnings release on May 28. Meanwhile, Tesla stock has rocketed higher as CEO Elon Musk returned his focus to the company after a stint with the Department of Government Efficiency (DOGE).

The short squeeze hasn’t just happened in large-cap tech names. It’s been a core theme of the most recent market rally. Over the past several weeks, short sellers were also hammered in popular retail trading names. Losses in Palantir (PLTR) and Hims & Hers (HIMS) totaled more than $2 billion. Short sellers in the bitcoin-focused company Strategy (MSTR) lost more than $5 billion.

Palantir shares have risen more than 55% since the market bottom. Strategy shares have soared over 68%. Hims & Hers stock has more than doubled. All three stocks have far outpaced the 17% gain in the S&P 500 (^GSPC) over that time period.