Tesla Remains Most Shorted Despite Shares Rally, Elon Musk Believes Bill Gates Still Shorts His Company
$Tesla (TSLA.US)$ remains the most shorted stock among US large-caps for three consecutive months, securities lending data firm Hazeltree said in a report on Tuesday. Short interest in Tesla's stock is currently valued at almost $22 billion, with 82 million shares. Moreover, there are rumors that Bill Gates is one of the most prominent Tesla shorts, although he never publicly confirmed it.
Tesla stock rallied over 10% on Monday after a $Morgan Stanley (MS.US)$ note suggested the automaker's Dojo supercomputer could bolster Tesla's market value. Analyst Adam Jonas increased Tesla's price target by a considerable 60% over the weekend. He claimed that the company's Dojo supercomputer could add up to $500 billion to its valuation through fast adoption of self-driving robo-taxis and network services.
Now a short bet expects a stock price to fall. Hazeltree, which tracks 12,000 equities globally, said the second and third most shorted stocks last month were $Charter Communications (CHTR.US)$ and $Apple (AAPL.US)$ respectively. Research firm Whale Wisdom's data reveals the various strategies employed by investors to short Tesla, which they disclosed to the Securities and Exchange Commission on June 30. These strategies include investors with long and short positions in stocks such as Diamond Hill, Leuthold Funds, and Forum Funds, among others. Additionally, a Blackstone fund of funds contained short positions of other hedge funds and investment managers. AQR Capital Management's hedge fund and Federated Hermes' investment manager aimed to offset rising and falling asset prices, thereby avoiding market risk.
According to a recent biography of Elon Musk by Walter Isaacson, Tesla's CEO responded on Monday through his social media platform X to Bill Gates' short position against the electric vehicle company:
It may be necessary to "community note" Musk's comment because shorting a stock does not necessarily imply that you wish to gain from someone's downfall. It merely implies that you believe that the stock is overpriced.
If I'm honest, I've only lost money trying to short TSLA," said Dan Izzo, founder of the hedge fund Blackbird Capital, who did not disclose whether he currently had a position in Tesla. "Not because I'm wrong about it, but because the market can be irrational for longer than I can afford to be proven right."
Source: Bloomberg, Barron's, Reuters, Electrek, X
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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Mr Careful : I have been shorting and covering tesla shorts lately. this is a great counter to make money. I
tesla.
Mr Careful : currently, has not lost a single cent from a single short position on tesla. i
tesla
Gong Xi Fuck Cai ❤ :
NewtonOj : Bill gates is a man that will be sued in to Bolivian
GreenEarth : Musk long and gates short. Which one is right? Both will be right at the end.![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
73164936 : he confirmed long time ago, when he said he was shorting it because of philanthropy
bullrider_21 NewtonOj : Oblivion. He just needs to escape to Bolivia.
RIPPER : TSLA trades 70% + off exchange for last 3 months
Master Corgi : Bullish Tesla
Master Corgi Mr Careful : Make how much
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