ExxonMobil Overtakes Tesla In Becoming The Most Shorted Large-Cap Stock In S&P 500
Portfolio Pulse from Benzinga Neuro
ExxonMobil Corp (XOM) has overtaken Tesla Inc. (TSLA) to become the most shorted large-cap stock in the S&P 500, according to a report by HazelTree. ExxonMobil scored 99 on HazelTree's 'Crowdedness Score', indicating it is the most shorted by the highest percentage of funds tracked by the firm. Tesla scored 97. Rivian Automotive (RIVN) leads in terms of institutional supply utilization with 37%, significantly higher than ExxonMobil's 3.13% and Tesla's 2.67%.
November 09, 2023 | 8:58 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Rivian leads in terms of institutional supply utilization, indicating a high level of short interest.
A high level of institutional supply utilization suggests that a large number of shares are being borrowed for short selling. This could put downward pressure on Rivian's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
ExxonMobil has become the most shorted large-cap stock in the S&P 500, indicating a high level of bearish sentiment.
Being the most shorted stock indicates that a large number of investors are betting on the stock's price to fall. This could put downward pressure on ExxonMobil's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Tesla is no longer the most shorted large-cap stock in the S&P 500, but still has a high short interest.
While Tesla is no longer the most shorted stock, it still has a high level of short interest. This suggests that many investors are still bearish on the stock, which could create volatility in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100