Hedge funds continue to bet against Tesla despite its rising stock price

  • Tesla remains the most popular short position for hedge funds
  • Despite a 90% rise in stock price this year
  • Hedge funds have short positions worth nearly $19 billion in Tesla
  • Short sellers won big in October as Tesla shares dropped
  • Long-term betting against Tesla has proven difficult for Wall Street investors
  • Tesla shares are still down roughly 40% from their record high in 2021

According to the latest hedge fund trend report from Goldman Sachs Group, Tesla remains the most popular short position for hedge funds, despite the stock’s significant rise this year. Hedge funds have short positions worth nearly $19 billion in Tesla, and short sellers won big in October as the carmaker’s shares dropped. However, long-term betting against Tesla has proven difficult for Wall Street investors. Tesla shares are still down roughly 40% from their record high in 2021.

Public Companies: Tesla Inc. (TSLA)
Private Companies:
Key People: Elon Musk (CEO), Jim Chanos (Wall Street short seller)

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Factuality Level: 7
Justification: The article provides information about hedge funds’ short positions on Tesla and includes data from Goldman Sachs and other sources. It also mentions the volatility of Tesla’s shares and the recent selloff due to sales expectations. The article includes information about Jim Chanos’ unsuccessful short campaign against Tesla and the stock’s performance during the technology stock-led selloff. Overall, the article provides factual information supported by data and reports.

Noise Level: 7
Justification: The article provides some relevant information about hedge funds’ short positions and Tesla’s stock performance. However, it contains repetitive information and lacks in-depth analysis or new insights. It also does not provide evidence or data to support its claims. Overall, the article is somewhat noisy and lacks intellectual rigor.

Financial Relevance: Yes
Financial Markets Impacted: Hedge funds

Presence of Extreme Event: No
Nature of Extreme Event: No
Impact Rating of the Extreme Event: No
Justification: The article discusses hedge funds’ short positions on Tesla, indicating financial relevance. However, there is no mention of an extreme event or its impact.

Reported publicly: www.marketwatch.com