Tesla has reclaimed its spot as the most shorted large stock on the US market. A share price rally and boss Elon Musk’s alienating rants on Twitter have put a target on the US electric car company’s back. But record earnings make this a dangerously expensive bet.
Short interest in Tesla is now equal to 3.65 per cent of the float, according to data from S3 Partners.
It is easy to see why shorts are gunning for Tesla once again, displacing Apple in the process. Electric vehicles have become much more available. That has lowered Tesla’s share of the market, leading it to cut prices for some models in the US, Europe and China.
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