Tesla short interest is $7.28 billion; 24.47 million shares short; 19.48% of its float; stock borrow cost is 30 bp fee (general collateral.)
Tesla is reporting earnings tonight and although shorts have covered 847k of their exposure over the last week, short side trading over the last several days have been relatively quiet with just 240k of short covering since Monday. It looks like short sellers are standing pat at the moment and not increasing or decreasing their exposure before tonightâ€™s news.
Shorts are down $54 million in mark-to-market losses on todayâ€™s +0.74% price move, but are still up $863 million in mark-to-market profits in January.
The automobile manufacturing sector has been rallying this year, with most major automakers up over 10% in 2019. Tesla shorts are the only real winners in the sector, up 11% year-to-date, while Ford (F), Fiat Chrysler (FCAU) & General Motors (GM) shorts are down 13%; Nio (NIO), Ferrari (RACE), Honda (HMC), Daimler (DDAIF) are down 11%-12%; and Toyota (TM) down 6%.
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