Tesla Short Interest Soars To 21.16%, Making It 4th Most Shorted Stock Currently: Here's What Its Charts Indicate

Tesla Inc. (NASDAQ:TSLA) short interest has increased by over 21% during its current reporting period, making it the fourth most shorted stock in the U.S. market currently.

What Happened: The short interest on the company led by Elon Musk has increased from 67.126 million to 81.331 million shares. About 2.9% of the company's publicly available shares were shorted as of the settlement date on March 14, having an effective date of March 25.

According to Nasdaq data, the short interest soared by 21.16% from the previous settlement date of Feb. 28.

The average daily trading volume during the latest period increased from 84.714 million to 125.16 million shares. The volume indicated that it would require approximately one day for the short sellers to cover their positions without significantly impacting the stock price.

While high short interest signals bearishness, an increase during the current report period indicates lower confidence. According to Beth Kindig, a tech analyst at I/O Fund, this increase makes its notional short interest of 81.331 million shares, the fourth-most currently after Nvidia Corp. (NASDAQ:NVDA), Microsoft Corp. (NASDAQ:MSFT), and Apple Inc. (NASDAQ:

https://www.benzinga.com/general/market-summary/25/04/44602836/tesla-short-interest-soars-to-2116-making-it-the-4th-largest-shorted-stock-heres-what-its-