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

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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."

 

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