Shares of Tesla Inc snapped a seven-session losing streak on Wednesday, in their rare rise this month on the way to what will be the electric-vehicle maker's worst year on record.The stock gained 3.3 per cent on the day. It is set to round off 2022 with a 68 per cent drop - the most among the big U.S. tec
Shares of Tesla Inc snapped a seven-session losing streak on Wednesday, in their rare rise this month on the way to what will be the electric-vehicle maker's worst year on record.
"The shorts are piling on and the stock is way oversold here, which could drive a bounce-back rally," Wedbush analyst Dan Ives said. About 2.85 per cent of Tesla shares, or $8.36 billion, are shorted, S3 Partners said, adding that short selling was up by more than 8.98 million shares this year due to a drop in the stock price, which was partly driven by Musk's share sales to fund his Twitter purchase.
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