TSLA Short Interest Rises to Record $47B as GME, AMC Bring Stock Market’s Attention to Shorting (01.28.21)
Tesla Daily: Tesla News & Analysis
Rob Maurer
4.8 • 1.1K Ratings
🗓️ 29 January 2021
⏱️ 10 minutes
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Summary
➤ Tesla short selling has increased to a record $47 billion as TSLA’s stock price continues to rise
➤ Robinhood and other brokerages halt trading on Gamestop ($GME) and AMC Entertainment ($AMC) as short squeeze pressures hedge funds
➤ Analysts react to TSLA’s Q4 earrings report
➤ Continued discussion on Tesla’s earnings report and refreshed Model S and Model X
➤ Tesla ramps up Supercharger network expansion
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Executive producer Bradford Ferguson
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Executive producer Jeff Sheets
Executive producer Jessie Chimni
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Music by Evan Schaeffer
Disclosure: Rob Maurer is long TSLA stock & derivatives
Transcript
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| 0:00.0 | Hey everybody Rob Ma'er here and today we're going to be regrouping a little bit on what happened yesterday at Tussles earnings report as well as some of the new features |
| 0:14.1 | with the updated model S&X. Should be a pretty quick episode today. I think people mostly today just kind |
| 0:18.6 | of digesting the results and a lot of attention in the stock market today focused on the situation that's been unfolding with GameStop and some other stocks. |
| 0:26.5 | Quick 30 second synopsis in case you haven't been following that situation. |
| 0:29.7 | Essentially, hedge funds had been short GameStop significantly. |
| 0:33.5 | The stock market discussion page on Reddit Wall Street Betts saw that super high short interest |
| 0:38.5 | on the company. |
| 0:39.3 | There was also a management change at GameStop. |
| 0:41.7 | And collectively the whole internet it seems like decided to buy |
| 0:45.0 | GameStop stock, go along and somewhat force a short squeeze in GameStop so that's been |
| 0:50.2 | unfolding over the last week or so the stock is up around 10x and seemed to reach a boiling |
| 0:54.8 | point today when a number of different brokers actually disallowed trading on GameStop and a couple of these |
| 1:01.1 | other stocks Robin Hood has been getting the most |
| 1:03.4 | attention here but it wasn't just Robin Hood and sure they can argue that this is |
| 1:06.9 | for the user's protection and it's a complex situation but I think that's a |
| 1:10.0 | relatively false argument so personally I think it's very disappointing to see some of those actions taken today. |
| 1:14.8 | And I do hope that this leads to some reform in some way. |
| 1:18.0 | It's certainly been getting a lot of attention. |
| 1:19.6 | Elon Musk for his part was chiming in today, again saying, make shorting illegal, a sentiment he has shared in the past because of course, at one point in time, |
| 1:27.0 | Tesla was extremely heavily shorted as a percent of float. Now that has declined over the years. |
| 1:32.0 | Still a very significant dollar amount, short |
| 1:34.3 | Tesla, but as a percent of the shares outstanding, short interest now is much lower, somewhere |
... |
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