Tesla Now World's Biggest Short Bet: Can Cybertruck Launch Ignite A Short Squeeze-Driven Rally?
Portfolio Pulse from Shanthi Rexaline
Tesla, Inc. (NASDAQ:TSLA) is now the world's most valuable short with a short interest of $18.36 billion, according to S3 Partners. Approximately 3.03% of the float, or around 83.34 million shares, are currently shorted. Despite a 14.72% decline in stock price over the past month, short sellers have seen a $1.76 billion decrease. The upcoming Cybertruck launch event on Nov. 30 could potentially squeeze short sellers out of their positions if the stock starts to rise.
November 09, 2023 | 8:39 am
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Tesla is now the world's most valuable short. The upcoming Cybertruck launch could potentially squeeze short sellers out of their positions if the stock starts to rise.
The news directly pertains to Tesla and its stock price. The upcoming Cybertruck launch could potentially cause a short squeeze, which would drive the stock price up. However, the company has been grappling with fundamental challenges, which could continue to put downward pressure on the stock.
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