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        Cybertruck is finally hitting the streets: Will it be a win for Tesla?
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        Tesla Stock Forecast: TSLA has further room to fall as institutions show bearish impulse

        Goldman Sachs noted on Wednesday that Tesla is a favorite short among hedge funds.
        Likewise, mutual funds as a class hold TSLA as an underweight position.
        At the end of October, nearly $17 billion worth of short interest was seen in TSLA.
        TSLA stock has been in a downtrend on the daily chart since mid-July.
        Tesla Stock Forecast: TSLA has further room to fall as institutions show bearish impulse
        Tesla stock closed up 0.28% on Wednesday, outperforming the NASDAQ Composite, which dropped 0.58%. However, institutional bearishness parallels the general downtrend over the past four months and CEO Elon Musk’s recent ho-hum Cybertruck event.
        Tesla stock news
        Tesla stock was notably the only one of the Magnificent Seven – Apple, Amazon, Microsoft, Tesla, Nvidia, Meta Platforms, Alphabet – that did not make it to the overlapping long list. Instead, TSLA stock was listed under the banner of stocks that were both underweight among mutual funds and heavy shorts by hedge funds.
        Tesla’s gain on Wednesday was fairly measured compared to other names like Rivian Automotive (RIVN) and Nio (NIO). Long-dated Treasury yields sank on Wednesday, which has helped the risk-on mood. Nio is benefiting from a report that it is planning to spin off its battery manufacturing business in order to become more profitable.
        Tesla stock forecast
        Tesla stock has been stuck in a downtrend since reaching a range high just under $300 on July 19. Just last week, TSLA once again bounced lower after reaching the topline of the descending price channel.
        Tesla Stock Forecast: TSLA has further room to fall as institutions show bearish impulse
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