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.
We are seeing increased short selling today as short sellers are increasing their exposure in todayâ€™s price drop and expected further weakness.
Shares shorted were down 675k, -2.13% over the past week ahead of the news which was a reversal from February and Marchâ€™s trend of increased short selling. Shares shorted are up 5.4 million shares, +21.20%, in 2019.
With a mid-morning price of $267.18 TSLA stock is down 8.44% and shorts are up $763 million in mark-to-market profits today. Todayâ€™s price move added to Tesla shorts yearly profits, they are now up $1.79 billion, +21.87%, in mark-to-market profits for the year.
Want deeper insight into the above analysis?
Contact:Â [email protected]
Managing Director Predictive Analytics, S3 Partners, LLC
For more information on S3â€™s reporting, data and analytics solutions, email us at [email protected]. Start your free trial of the BLACK App â€“ the only source of real-time short interest on the Bloomberg Terminal or Thomson Reuters Eikon.
For short side data and access to our research reports go to https://shortsight.com/ .
The information herein (some of which has been obtained from third party sources without verification) is believed by S3 Partners, LLC (â€śS3 Partnersâ€ť) to be reliable and accurate.Â Neither S3 Partners nor any of its affiliates makes any representation as to the accuracy or completeness of the information herein or accepts liability arising from its use.Â Prior to making any decisions based on the information herein, you should determine, without reliance upon S3 Partners, the economic risks and merits, as well as the legal, tax, accounting and investment consequences, of such decisions.