Apple overtakes Tesla as most shorted stock in the U.S.

Tesla (TSLA) has been the most shorted stock in the United States since April 2020, meaning investors thought it was more likely that TSLA share prices were going to go down than up.

That decision led to financial ruin for many of those investors as Tesla share prices have soared since early 2020, translating into short losses totaling billions of dollars.

It appears as though lessons have been learned as Tesla is no longer the most shorted stock in the US.

According to data from S3 partners, Apple (AAPL) now holds that crown with the value of their shorted stock totaling $18.44 billion, surpassing Tesla which sits at $17.44 billion. (via StreetInsider)

Although Apple now leads Tesla in terms of the short interest’s total dollar value, Tesla still leads as a percentage of the float at 1.8% compared to 0.70% for Apple.

Through the first 9 months of 2022 Tesla (TSLA) shares are down about 25%, currently trading around $300. That share price is after the recent 3-1 stock split that took place in August 2022, meaning the price is closer to $900 pre-split.

But that wasn’t the first stock split as the same thing happened in August 2020with a 5-1 split.

Taking both into consideration, Tesla (TSLA) shares are currently trading at around $4,500 per share. That is above the $4,000 price target from ARK Invest, a target which was laughed at by many investors when Kathie Wood announced it in 2018.

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