According to data from S3 Partners LLC, Tesla is now the third-most shorted stock in the market, trailing behind Apple and Microsoft. S3 Partners’ Managing Director of Predictive Analytics, Ihor Dusaniwsky, shared this information, revealing that approximately $18.51 billion worth of Tesla shares were held as short bets. In comparison, Apple had approximately $18.63 billion worth of shares shorted, while Microsoft had $18.61 billion.
Although Tesla is no longer the world’s most shorted stock, it still holds the highest short interest among the “Magnificent 7,” a group of mega-cap companies that includes Apple, Microsoft, Alphabet, Amazon, NVIDIA, and Meta. This group gained its name due to its significant impact on the market’s performance, thanks to its heavy weighting in major stock indexes like the S&P 500 and Nasdaq 100. In the case of Tesla, 3.06% of its stock float is shorted. However, other companies like General Motors have an even higher short interest, with 8.17% of the automaker’s float being shorted.
The other members of the Magnificent 7, namely NVIDIA, Amazon, and Meta, also have a significant number of shorted shares, amounting to $14.26 billion, $11.79 billion, and $11.47 billion, respectively. Alphabet, while not among the top 10 shorted stocks in S3 Partners’ data, still has $6.28 billion in short bets.
In a follow-up post, Dusaniwsky mentioned that Tesla shorts lost $12.5 billion in 2023, with an average short interest of $18.9 billion, marking a 64.64% decrease. Interestingly, Tesla shorts have lost a total of around $61.9 billion since 2010, a figure larger than the market capitalization of Ford ($44.53 billion) and General Motors ($47.96 billion) as of the present.
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