Tesla is the most shorted stock in the market — bet against for 3 straight months

  • 📰 therealautoblog
  • ⏱ Reading Time:
  • 26 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

Business News News

Business Business Latest News,Business Business Headlines

Elon Musk's EV maker topped the list of most shorted US large-cap stocks for a third consecutive month in August, a new report showed.

Musk took to"Taking out a short position against Tesla, as Gates did, results in the highest return only if a company goes bankrupt!" Musk wrote."Gates placed a massive bet on Tesla dying when our company was at one of its weakest moments several years ago. Such a big short position also drives the stock down for everyday investors."after Morgan Stanley published a bullish research note and upgraded it to"Overweight.

Tesla has lofty upside potential because of its Dojo supercomputer, which the bank thinks could add another $500 billion to the company's market cap. "The same forces that have driven AWS to reach 70% of Amazon total EBIT can work at Tesla, in our view, opening up new addressable markets that extend well beyond selling vehicles at a fixed price," analyst Adam Jonas said."The catalyst? Dojo, Tesla's customer supercomputing effort in the works for the past 5 years."

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 528. in BUSİNESS

Business Business Latest News, Business Business Headlines