• 478 days Will The ECB Continue To Hike Rates?
  • 478 days Forbes: Aramco Remains Largest Company In The Middle East
  • 480 days Caltech Scientists Succesfully Beam Back Solar Power From Space
  • 880 days Could Crypto Overtake Traditional Investment?
  • 885 days Americans Still Quitting Jobs At Record Pace
  • 887 days FinTech Startups Tapping VC Money for ‘Immigrant Banking’
  • 890 days Is The Dollar Too Strong?
  • 890 days Big Tech Disappoints Investors on Earnings Calls
  • 891 days Fear And Celebration On Twitter as Musk Takes The Reins
  • 893 days China Is Quietly Trying To Distance Itself From Russia
  • 893 days Tech and Internet Giants’ Earnings In Focus After Netflix’s Stinker
  • 897 days Crypto Investors Won Big In 2021
  • 897 days The ‘Metaverse’ Economy Could be Worth $13 Trillion By 2030
  • 898 days Food Prices Are Skyrocketing As Putin’s War Persists
  • 900 days Pentagon Resignations Illustrate Our ‘Commercial’ Defense Dilemma
  • 901 days US Banks Shrug off Nearly $15 Billion In Russian Write-Offs
  • 904 days Cannabis Stocks in Holding Pattern Despite Positive Momentum
  • 905 days Is Musk A Bastion Of Free Speech Or Will His Absolutist Stance Backfire?
  • 905 days Two ETFs That Could Hedge Against Extreme Market Volatility
  • 907 days Are NFTs About To Take Over Gaming?
The Streaming Warriors Are in Trouble

The Streaming Warriors Are in Trouble

The growing consensus is that…

  1. Home
  2. Investing
  3. Stocks

Tesla Faces $20 Billion In Short Interest

Tesla Shorts

Short interest on Tesla is set to make the EV maker's stock the first stock to hit US$20 billion in bets against it, data from financial analytics firm S3 Partners showed, as short sellers seem unfazed by Elon Musk's open mocking in recent days.  

Short interest in Tesla has reached US$19.95 billion, S3 Partners data, cited by Business Insider, shows.

While Tesla's stock continues to rally, closing at a record $1,394 on Thursday, Ihor Dusaniwsky, managing director of S3 Partners, said in a note on the same day that Tesla is a candidate for a short squeeze.

Early on Thursday, Dusaniwsky tweeted that Tesla short interest was $19.19 billion, with 14.05 million shares shorted, or 9.5 percent of the float.

"If Tesla's stock price continues to trend upward, we expect even more short covering as mark-to-market losses accumulate," Dusaniwsky wrote in the note, adding that "Traders can expect a squeeze on their shoulder from their controllers to trim or close out their positions as their Tesla losses breach risk limits."

After the rally of Tesla's stock in recent weeks, Elon Musk mocked last week Tesla's short sellers, as well as the Securities and Exchange Commission, on Twitter.

In a series of tweets, Musk asked, 'Who wears short shorts?', and said that "Tesla will make fabulous short shorts in radiant red satin with gold trim," and "Will send some to the Shortseller Enrichment Commission to comfort them through these difficult times." Related: The Secret Life Of Lithium

Musk also tweeted a profane play on the regulator's initials, "SEC, three letter acronym, middle word is Elon's."

During the weekend, Musk launched the red-and-gold short shorts line, Tesla Short Shorts, on Tesla's website at $69.420 apiece. The description of the short shorts, which sold out in minutes, reads at the end, "Enjoy exceptional comfort from the closing bell."

By Tsvetana Paraskova for Oilprice.com

More Top Reads From Safehaven.com:

Back to homepage

Leave a comment

Leave a comment