Tesla Short Interest Seems To Have Dipped A Bit — But Elon Musk Still Thinks 'They're Gluttons For Punishment'
Portfolio Pulse from Benzinga Neuro
Tesla Inc. (NASDAQ:TSLA) CEO Elon Musk commented on the high short interest in Tesla, which remains the most shorted stock by value despite a slight dip from earlier levels. Short interest in Tesla was reported at $16.9 billion, down from $18.36 billion earlier this month. Tesla's stock has been underperforming since its Q3 results, but there is speculation that the upcoming Cybertruck launch could lead to a short squeeze. Tesla's stock is up 117.81% year-to-date.
November 27, 2023 | 1:37 am
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Tesla's short interest has slightly decreased but remains the highest by value, with Elon Musk criticizing shorts. The stock has been down since Q3 results, but the Cybertruck launch could potentially cause a short squeeze.
The slight decrease in short interest and Elon Musk's comments may not have a significant impact on the stock price. However, the anticipation of the Cybertruck launch could lead to increased investor interest and a potential short squeeze, which is typically bullish for the stock price in the short term.
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IMPORTANCE 80
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