Tesla short interest is currently at $9.9 billion, with 33.79 million shares being shorted. Tesla posted $2.92/share quarterly profit and an average of 4,300 Model 3’s produced weekly. We saw some short covering throughout the day, but shorts did not run for the exits ahead of the earnings call. Tesla is up over 12% in aftermarket trading, costing the shorts $985 million in mark-to-market losses after being up $190 million on today’s -2.25% daily decline.
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Managing Director Predictive Analytics, S3 Partners, LLC
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