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Tesla short position down by half from start of year

by Mike Robinson

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© Reuters. FILE PHOTO A Tesla car is charged at the Supercharger station of Singapore on October 22, 2021. REUTERS/Edgar Su/File Photo

NEW YORK, (Reuters) – Short interest in Tesla Inc (NASDAQ:) Inc was 3.6% at the end of January, down from 8% at the beginning of this year. This is due to the rise of Tesla’s share prices and the fact that short sellers have covered all their losses.

The number of shares shorted stood at 29.5 million, down from 60.6 million at the start of January, according to Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners.

According to S3, short interest for Tesla was still at $36.1 billion. This is more than any stock.

Tesla stock shares fell 3% Monday, as investors braced for Elon Musk’s proposal to sell about 10% of its holdings. This was in response to his tweet (NYSE:) poll.

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