Weâ€™re seeing increased short selling in Tesla today, continuing a trend for the last week in which shares shorted increased by 1.12 million shares, +4.35%. Teslaâ€™s stock price is down -11.80% over the last week.
Tesla short sellers are up $327 million in mark-to-market profits in March, which includes $148 million in mark-to-market losses today as the stock has rebounded by $5.51/share.
Short sellers have been relatively quiet for the month of February and early March, with short activity picking up only this week. Shares shorted are bouncing off levels we have not seen since 2015, and if Teslaâ€™s price weakness continues we should see an acceleration of the increase of short sale activity we saw this week.
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