Tesla (NASDAQ:TSLA) stock last traded at $123.15, down more than 69% YTD. TSLA stock has lost more than 35% just in the month of December and shorts may have a role to play. TSLA’s market cap has dropped below $500 billion for the first time since the pandemic. Tesla was worth more than $1 trillion in October last year.
As per Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners over the last month there was a resurgence of short selling after a slight lull in November with 3.78 million new shares shorted, worth $520 million.
So what could save TSLA stock ? Either a buy back program from TSLA or a new CEO for Twitter would mean Elon Musk will be back in the saddle to help TSLA achieve its goal.