Tesla shares gained more than 20% in the last two weeks making life extremely difficult for short sellers.
According to data from S3 partners, Short sellers have lost nearly $2.4 billion this month. Despite the losses, shorts are refusing to back away from the fight as they increased their wager in the past few weeks.
$TSLA up 4.3% today, following a 4.5% jump yesterday. #Tesla short interest is $12.6 bn, 37.9 mm shares or 29.9% of the float. Shorts were down $549 mm in mark-to-market losses yesterday and are down another $540 mm today. June MTM losses are now $2.4 bn & YTD losses are $1.8 bn.
— Ihor Dusaniwsky (@ihors3) June 12, 2018
Tesla short interest now reads a record $12.6 billion, a 15.5% increase since May 25.
June 12, 2018: Tesla short interest – $12.6 billion, 37.9 million shares (29.9% of float)
May 25, 2018: Tesla short interest – $10.9 billion, 39.03 million shares (31% of float)
“In all of 2017, they (short-sellers) were down $3.4 billion. To lose $2 billion in a month, stands out as one of the biggest losses for a stock that I have seen,” said Ihor Dusaniwsky, head of research at S3 in New York.
“With almost 80 million shares traded in June this slight short covering did not move
#Tesla‘s stock price, long buying demand pushed up the price not a short squeeze.” said Dusaniwsky
Welcome to the short burn of the century.