Tesla currently the most shorted stock in the U.S. market

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According to the latest data, the number of investors that are betting against the electric-car manufacturer Tesla are increasing compared to any other United States stock.

Tesla’s dollar amount of shares shorted rose by 28 percent during the last month to $10.7 billion, as stated by S3 Partners.

Based on the data from FactSet, the percentage of the current available stocks of Tesla were approximated to be sold short over 25 percent.

S3 Partners head of research Ihor Dusaniwsky stated that Tesla, which was recently surpassed by Apple as the biggest U.S. equity short recently, is now back on the top of the ladder. Marking its return to a position it held since March of 2016.

He also added that Tesla short sellers have come back to shortening Tesla stock significantly over the course of five weeks after cutting their short exposure for the initial two months of the year 2018.

The report from the S3 Partners came after Goldman Sachs urged its clients to sell the stock. Unconvinced that Tesla will have the ability to meet its Model 3 production goals.

As stated by David Tamberrino, a Goldman analyst, on Tuesday, sustainable production rate for the second quarter of the year 2018 is most probably not meet the 2,000 unit mark the company had reached during the final week of Tesla’s quarter.

Elon Musk, Tesla’s chief executive, has stood his ground against the company’s detractors. On Wednesday, Musk called out Goldman following the banks dingy forecast.

 

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