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Apple overtakes Tesla as the most-shorted stock. Is that bearish?

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Chatterbox Moo wrote a column · Sep 16, 2022 00:15
For the past two and a half years or so, $Tesla(TSLA.US)$ has been the most bet against market in the stock. Now $Apple(AAPL.US)$ has overtaken Tesla as the most shorted stock in the market as of this week, according to the report from short-seller analytics firm S3 Partners.

As of Sept. 14, a total of $18.4 billion worth of Apple shares were sold short, surpassing Tesla's total of $17.4 billion.

On the total value of the position, Apple's short interest has caught up to Tesla
Source: electrek
Source: electrek
However, in terms of short positions relative to the number of shares outstanding (short-interest percentage), Apple's is only 0.70% sold-short, while 2.32% of Tesla's shares are shorted. Apple ranks in 477th place among the 500 stocks within the S&P 500, according to the most recent data available from FactSet.
Apple ranks high on S3's list even with a low ratio because it's the most valuable company in the US with a market capitalization of about $2.5 trillion.
Back in April 2020, roughly 11% of the Tesla stocks available for trading was sold short. Many bears didn't think Tesla could grow its business, but Tesla has done that. The stock price rallied over 1000% during the period of time.
Apple overtakes Tesla as the most-shorted stock. Is that bearish?
Mooers, what does the heavy short position represent?
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only. Read more
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