More than 3% of Tesla shares currently trading are sold short, according to S3 Partners. Only Apple faces a bigger short bet.
Short sellers raised their bets against Tesla this month, as the electric car maker's shares fell by a further 35% . More than half a billion dollars worth of shares were sold short in December, making Tesla the second-most shorted stock as of Dec. 21, according to data from S3 Partners. Short sellers profit when stocks fall. They borrow shares to sell them immediately with a plan to repurchase them when the price is lower to pocket the difference.
3 billion in total short interest, according to S3 Partners. Only Apple faces a bigger short bet of $16.8 billion. Microsoft , Visa and Alibaba 's U.S.-listed shares round off S3's list of the top 5 most shorted stocks. Twitter bid Short-sellers upped their bets against targeting the electric automaker this year after its CEO Elon Musk announced his big to buy Twitter on April 14. Hedge funds expected Musk to sell shares to fund his $44 billion leveraged buyout of the social media giant.
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