A few months ago, I posted about the pattern I noticed with Tesla short interest – that no matter what the stock price does, shorts adjust their bets to a constant $10 billion. As the stock has risen to new all time highs, this pattern continues. Here is a chart of Tesla short interest:
Here is Tesla short interest based on closing price at previous Nasdaq short interest report (shares shorted * closing price at previous report). This shows how shorts adjust their positions up or down to get as close to $10 billion shorted:
This is a strange phenomenon. Tesla has unusually high short % for a large cap and the constancy at 10 billion doesn’t seem like coincidence.