Tesla, Inc. (NASDAQ: TSLA) has once again maintained its position as the most shorted large-cap U.S. stock for the third consecutive month.
The report released on Tuesday revealed that Tesla held the top spot among heavily shorted stocks in the large-cap category for the entire month of August.
This news comes on the heels of a noteworthy 5% surge in Tesla’s stock on Monday. The boost followed a research note from Morgan Stanley, suggesting that Tesla’s advanced Dojo supercomputer could have the potential to significantly enhance the company’s market value.
For those unfamiliar with the term, short selling involves placing a bet on a stock’s decline in value.
Hazeltree, a trusted monitor of a diverse portfolio of 12,000 global equities, also disclosed that Charter Communications (NASDAQ: CHTR) and Apple Inc. (NASDAQ: AAPL) secured the second and third positions, respectively, in the list of most shorted stocks for the previous month.
Tesla’s CEO, Elon Musk, took to his social media platform “X” on Monday to respond to a short position taken against the company by Microsoft (NASDAQ: MSFT) co-founder Bill Gates, as documented in a recent biography of Musk authored by Walter Isaacson.
Musk emphatically stated, “Taking a short position against Tesla, as Gates did, is only profitable if the company goes bankrupt!”
As of Tuesday afternoon, Tesla’s shares (TSLA) were down by 2.16% in trading.
