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%

Canada News News

Canada Canada Latest News,Canada Canada 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."

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 CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Canada Canada Latest News, Canada Canada Headlines