• 3 days Robinhood To Trade On Nasdaq Targeting $32B Valuation
  • 6 days Facial Recognition Is Watching You
  • 8 days Biden’s $3.5T ‘Human Infrastructure’ Workaround
  • 8 days The Fed’s $3 Trillion Headache
  • 11 days Why Bitcoin Could Struggle To Recover After Epic Crash
  • 11 days Wells Fargo Back In The Spotlight Over Personal Loan Cancellations
  • 12 days Delta Variant Real Threat To Economic Recovery
  • 15 days JEDI Drama Continues With Microsoft Contract Cut
  • 17 days DiDi Shares Take a Beating From Chinese Regulators
  • 18 days Thousands Of Companies Hit In Latest Ransomware Attack
  • 18 days Jobs Report Has Big Numbers, But Still Big Problems
  • 19 days Robinhood’s ‘Mission’ Questioned in $70M Fine
  • 22 days Didi Just Went Public, And Uber Is Loving It
  • 23 days Islamic Finance On Track To Hit $3.7 Trillion
  • 24 days The Lumber Bubble Is Bursting
  • 28 days A New Entry In The Two Trillion Dollar Club
  • 28 days 3 Upcoming IPOs To Watch As IPO Market Rebounds
  • 30 days Welcome To The Used Car Bonanza
  • 31 days The Year Of The Retail Investor Keeps Getting Bigger
  • 32 days Airlines Could Recover, But Crew Remain Elusive
Stocks That Could Benefit From Biden’s $2.5 Trillion Infrastructure Plan

Stocks That Could Benefit From Biden’s $2.5 Trillion Infrastructure Plan

President Biden’s $2.25 trillion infrastructure…

Tech Majors Bet Big On Clean Energy

Tech Majors Bet Big On Clean Energy

In recent years, Big Tech…

Oilprice.com

Oilprice.com

Writer, OilPrice.com

Information/Articles and Prices on a wide range of commodities: We have assembled a team of experienced writers to provide you with information on Crude Oil,…

Contact Author

  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