{"id":31570,"date":"2022-09-15T14:58:23","date_gmt":"2022-09-15T18:58:23","guid":{"rendered":"https:\/\/autosector.com\/?p=31570"},"modified":"2022-09-15T14:58:23","modified_gmt":"2022-09-15T18:58:23","slug":"tesla-tsla-loses-most-shorted-stock-title-apple-aapl","status":"publish","type":"post","link":"http:\/\/autosector.com\/?p=31570","title":{"rendered":"Tesla (TSLA) loses infamous ‘most shorted stock’ title to Apple (AAPL)"},"content":{"rendered":"

Tesla (TSLA) has officially lost its infamous \u201cmost shorted stock\u201d title as the short position on Apple\u2019s stock (AAPL) rises above Tesla\u2019s.<\/p>\n

CEO Elon Musk<\/a> has often warned people not to bet against Tesla on the stock market. He went as far as predicting a \u201cnext level short burn of the century<\/a>,\u201d and it sort of happened back in 2020.<\/p>\n

Tesla\u2019s stock went on a massive run, and people shorting the stock have cumulatively lost tens of billions of dollars.<\/p>\n

Over the years, Tesla has been the target of some high-profile short-sellers like Jim Chanos, who made his name on shorting Enron, and David Einhorn, who made his name shorting Lehman Brothers before its 2008 collapse.<\/p>\n

After the \u201cshort burn,\u201d Musk ended up sending Einhorn a bunch of Tesla \u201cshort shorts\u201d<\/a> to tease him \u2013 even Bill Gates ended up shorting Tesla<\/a> at some point.<\/p>\n

For more than two years now, Tesla has remained the most shorted stock in the world based on the total value of the stock position.<\/p>\n

Now S3 Partners Research, a firm specializing in short interest, reported that the short position on Apple has surpassed Tesla\u2019s for the first time:<\/p>\n

\n

Tesla Inc (TSLA) has held the top spot in the short interest league tables for 864 days, almost two and a half years since April 2020 but Apple Inc (AAPL) has recently recaptured the crown. AAPL short interest is $18.44 billion, 112.86 million shares shorted and 0.70% Short Interest % of Float versus TSLA short interest of $17.44 billion, 57.30 million shares shorted and 2.19% Short Interest % Float.<\/p>\n<\/blockquote>\n

However, Tesla\u2019s stock is still more shorted than Apple\u2019s based on the percentage of the float.<\/p>\n

\"\"<\/figure>\n

It\u2019s on the total value of the position that Apple\u2019s short interest has caught up to Tesla.<\/p>\n

\"\"<\/figure>\n

S3 Partners explained the difference in a note to clients:<\/p>\n

\n

The change in the top spot in the short interest rankings was primarily based on short sellers cutting their TSLA exposure and not a huge jump in AAPL short selling. TSLA short interest declined in 2022 as short sellers have continued to cover and reduce their positions in response to a long-term short squeeze even though TSLA\u2019s stock price is down for the year.<\/p>\n<\/blockquote>\n

The firm described Tesla as experiencing a long and slow short squeeze over the last two years as the automaker turned a profit and significantly increased its positive cash flow.<\/p>\n

For years, Musk and fans have been complaining about the massive amount of money being invested against the company\u2019s stock, but for the first time in a long time, it looks like shorts are losing interest in the automaker.<\/p>\n

\n

FTC: We use income earning auto affiliate links.<\/em> More.<\/a><\/p>\n

\"\"<\/a><\/div>\n\n

Subscribe to Electrek on YouTube for exclusive videos<\/a> and subscribe to the podcast<\/a>.<\/p>\n