Tesla short interest $10.97 billion, 33.16 million shares shorted, 26.01% of float.
Tesla shares shorted decreased by 1.5 million last week, 1.2 million shares covered on Friday alone, as Tesla’s stock price spiked 31%.
Shorts were down $2.7 billion in mark-to-market losses over the last week bringing year-to-date mark-to-market losses to $1.56 billion.
Short covering may accelerate and shake out the short sellers with less conviction who are still in the black since The Tweet on August 7th. We are seeing net short covering so far this morning, but nothing in size that will be moving Tesla’s stock price significantly – today’s stock price move is due to long shareholders bidding up the price looking for the Tesla rally to continue.
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Managing Director Predictive Analytics, S3 Partners, LLC
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