Tesla (TSLA US) short interest is $9.55 billion, with 27.78 million shares shorted for 21.61% of float. Stock borrow rate is G.C. (General Collateral â€“ the cheapest stock borrow rate for the easiest to borrow stocks.)
Tesla short sellers continue to trim their positions as its stock price continues to trade in a $325 – $355 range in November. We saw 2.15 million shares covered this month, a -7.19% decrease, as its stock price rose by +2.93%. Teslaâ€™s November price move is adding to an already painful year for short sellers, shorts have incurred another $196 million in mark-to-market losses this month, bringing year-to-date mark-to-market losses to $1.68 billion, -16.16%.
We are still seeing the large long-term tesla shorts holding onto their positions, but smaller traders and funds continue to trim their positions and cut their losses.
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Managing Director Predictive Analytics, S3 Partners, LLC
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