TSLA - Battered Tesla Stock Could Cave In Further As Demand Stutters Warns Bearish Analyst: '#TheTruthHurts' | Benzinga
Tesla, Inc. (NASDAQ:TSLA) stock lagged behind the broader market recovery on Monday and slid below the psychological support of $200. As the lean stretch seen since mid-July continues, one bearish analyst thinks the stock could hurtle down toward his price target of $24.33.
What Happened: Tesla is the single greatest short in stock market history, going by the market capitalization lost, GLJ Research’s Gordon Johnson said in a post on X, formerly Twitter.
About 3.06% of Tesla’s float, which is the number of shares available for trading, are short bets, data provided by Yahoo Finance, citing Morningstar showed. Taking a short position is betting on the stock declining.
The average short interest for an S&P 500 stock is around 2.0, Barron’s said. The number of Tesla shares shorted as of Oct. 13 was 84.69 million compared to the company’s 2.72 billion float and 3.18 billion outstanding shares.
This is among the highest in the mega-cap space. Apple has a short ...