From Nasdaq:

Tesla, Inc. has given up its title as the most-shorted stock, falling to third place behind Apple and Microsoft. Tesla held approximately $18.52 billion worth of short bets, while Apple and Microsoft had around $18.63 billion and $18.61 billion, respectively.
The short interest of Tesla was at 3.06%, while Meta, Nvidia, Amazon, Alphabet, Apple, and Microsoft had short interest of 1.38%, 1.10%, 0.84%, 0.69%, 0.65%, and 0.65% respectively.
Despite being third, Tesla maintained the highest short interest among the “Magnificent 7” shares.

General Motors and T-Mobile had even higher short interests of 8.17% and 5.65%, respectively. The short interest for Advanced Micro Devices was 3.02%.

It’s worth noting that shorting a stock refers to selling a borrowed stock in anticipation of a falling price. Short sellers make a profit when the stock drops in line with their expectations. Tesla shorts lost $12.5 billion in 2023 and were down 64.64% on average short interest of $18.9 billion.

In 2023, Tesla ended with a gain of about 101%, compensating for first half strength with a weaker second half. The year ended with analysts expressing concerns about margins.

A reversal in sentiment could depend on its delivery strength and how the company manages its margin profile.

The increased short bets on Apple may reflect slowing iPhone demand, especially in China. The Vision Pro is expected to have a slow uptake in the first two years.

Tesla ended Wednesday at $215.55, and there is a continued weakness in the new year.

These stats were provided by S3 Partners and Dusaniwsky’s X handle.

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Read more: Tesla Loses Most-Shorted Crown To This ‘Magnificent 7’ Stock As EV Giant’s Skeptics Take $13B Hit In 2023