Tesla Inc (TSLA) closed the day down -2.69%, and down -14% month-to-date. TSLA shorts are up $1.07 billion in mark-to-market profits in May, making it one of their most profitable months since 2016. TSLA shorts are having a rebound year, up $3.88 billion in mark-to-market profits in less than five months in 2019 versus mark-to-market losses of -$1.40 billion in 2018, -$3.56 billion in 2017 and -$400 million in 2016.
Most Shorted Stocks
Facebook Inc (FB) shares shorted has more than halved in 2019, declining by 19.5 million shares, -56.5%. In April 3.8 million short shares were covered, -20.0%, as short sellers prepared for positive Facebook earnings results after a slew of unfavorable news stories centering around user data and privacy concerns.
- ChipotleConsumer DiscretionaryS3 Research
Chipotle Mexican Grill Inc (CMG) remains one of the most heavily shorted stocks in the U.S. Restaurant Sector, but short sellers have been trimming their positions recently with 538 thousand shares covered, -19.2%, since the middle of March.
- Consumer DiscretionaryCorporateNIOS3 ResearchTesla
Both Tesla Inc (TSLA) and NIO Inc (NIO) had reports of vehicles fires in Shanghai and Xiâ€™an China which is highlighting safety fears over electric vehicles and the use of high density lithium batteries. TSLA is down -3.6% over the past two days while NIO is up slightly, +0.84%.
- AppleConsumer DiscretionaryInformation TechnologyS3 ResearchSectors
Qualcomm Inc (QCOM) is up over 23% after the digital wireless communications equipment manufacturer agreed to end all litigation with Apple Inc (AAPL) and agreed on a six year licensing deal and supply agreement.
Netflix, Inc (NFLX) will be releasing their earnings after the bell today. The big question is whether the largest internet subscription service will be able to follow up last yearâ€™s surge in subscriber growth with another blockbuster year or will competition from Amazon.com Inc (AMZN), stand alone streaming channels and pending Apple Inc (AAPL) and Walt Disney Co (DIS) streaming services take a bite out of their meteoric growth path.
- CorporateExxon MobilS3 ResearchSectors
Chevron Corp (CVX) is acquiring Anadarko Petroleum Corp (APC) for $33 billion in cash and stock to join the ranks of Exxon Mobil Corp (XOM), Royal Dutch Shell PLC (RDS/A) and BP PLC (BP) as one of the major worldwide oil producers.
Tesla Inc (TSLA) is down 8.44% in mid-morning trading as car deliveries fell to 63,000 vehicles, down 27,966 vehicles,Â down 31%, from their fourth quarter number.
Tesla short interest is $9.04 billion; 30.99 million shares shorted; 24.49% of float; stock borrow cost is 0.30% fee.
Weâ€™re seeing increased short selling in the other Electric Vehicle manufacturer, NIO Inc (NIO) today.
NIO short interest is $420 mm; 84.40 mm shares shorted; 10.97% of float; 1.65% borrow fee.
Shares shorted are up 40.9 mm shares,+94%, in 2019 and up 24.8 mm shs,+41.7% in March and we are seeing continued short selling today, over one million additional shares shorted in morning trading.
- AppleConsumer DiscretionaryCorporateS3 Research
We are seeing continued short covering in Apple Inc (AAPL) ahead of their streaming service launch announcement this afternoon.
AAPL short interest is $17.03 billion; 89.13 million shares shorted; 2.14% of float; 0.30% borrow fee.