When I've discussed short squeeze candidates over the years, I've been talking about names that have 20. Many Tesla short sellers are simply skeptical of the stock's extreme valuation premium relative to other auto and large cap tech stock peers. Finance data, just 2.72 of Tesla's float is short, which is a rather low number. "These buy-to-covers and the potential for hedge funds to bulk up their positions in a high beta name with a positive price trend may help reverse TSLA’s year price weakness," Dusaniwsky said.įollowing Thursday's gain, Tesla shares are now up 24.3% overall in the past 12 months while the SPDR S&P 500 ETF Trust SPY is down 8.2% in that time.īenzinga’s Take: The earnings report was a big positive for Tesla, but it was likely not enough to change many short sellers minds. The prospects of Teslas business and the tug-of-war between bulls and. Look at the chart and look at this next-level luxury car the FF91 Futurist. The short covering rally could begin this Monday, May 8, 2023. In this first week of May, FFIE rose 62 from. By mid-2020, Tesla was the most shorted stock in the world, reflecting Wall Streets view that the company was overvalued. He said the large Thursday losses may force Tesla short sellers out of their position whether they want to exit or not. The result of the event created an enormous short squeeze in the stock price of. Faraday Future(FFIE) has a market cap of 180m and a massive 165 million shares short, comprising 28 of the float. “The end of 'supply chain hell' may turn into a 'short squeeze hell' for TSLA short sellers as Elon Musk says the firm has the 'potential for a record-breaking second half of the year.'” Dusaniwsky said. Short Squeeze Coming? Tesla shorts are feeling the pain, and Dusaniwsky said the short covering trend may continue following Thursday's big rally.
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