Tesla, Inc. (NASDAQ:TSLA) shares closed modestly lower on Tuesday, continuing their struggle to gain momentum since the company’s second-quarter results in July 2023. This lackluster performance coincides with Tesla remaining a favorite target for short sellers.
What Happened: A report by securities lending firm Hazeltree reveals that Tesla retained its position as the most-shorted large-cap stock in the U.S. for the second consecutive month in February. It ended last year on the same note.
The Hazeltree Crowdedness Score (HCS) assigned to Tesla was 99, the highest among large-cap stocks. This score indicates the percentage of funds shorting the stock, with 99 representing the highest level of short interest.
Chevron Corp. (NYSE:CVX) and Exxon Mobil Corp. (NYSE:XOM) followed closely with HCS scores of 94 and 92, respectively. This high short ...