TECH - Tesla Loses Most-Shorted Crown To This 'Magnificent 7' Stock As EV Giant's Skeptics Take $13B Hit In 2023 | Benzinga
Tesla, Inc. (NASDAQ:TSLA) has relinquished its title as the most-shorted stock, slipping to the third position, according to data from S3 Partners‘ Ihor Dusaniwsky shared on Wednesday.
What Happened: As of Jan. 12, approximately $18.52 billion worth of Tesla shares were held as short bets. This places the electric vehicle maker in the third spot, trailing behind Apple, Inc. (NASDAQ:AAPL) and Microsoft Corp. (NASDAQ:MSFT), both with around $18.63 billion and $18.61 billion in shorted shares, respectively.
Source: S3 Partners via Dusaniwsky’s X handle
Other “Magnificent 7” stocks, including Nvidia Corp. (NASDAQ:NVDA), Amazon, Inc. (NASDAQ:AMZN), and Meta Platforms, Inc. (NASDAQ:META), followed closely in the fourth, fifth, and sixth positions. Their shorted shares amounted to $14.26 billion, $11.79 billion, and $11.47 billion, respectively.
The only “Mag 7” stock missing from the top 10 most-shorted list was Alphabet, Inc. (NASDAQ:GOOGL) (NASDAQ:GOOG), which had $6.28 billion in short bets and secured the 11th position.
Tesla’s Elevated Short Interest: Despite its ranking, Tesla maintained the highest short interest among the “Mag 7” shares, ...