Tesla (TSLA) stock listed as May’s most-shorted large-cap stock by Hazeltree
Tesla has been listed by data and tech firm Hazeltree as the most-shorted large-cap stock in the United States in May 2024. As per the data firm, Tesla has a grade of 99 on its Hazeltree Crowdedness Score. The firm outlined its findings in its May 2024 Hazeltree Shortside Crowdedness Report.
Hazeltree’s Crowdedness Score represents securities that are being shorted by the highest percentage of funds in the firm’s community in a pre-defined category. The securities are graded on a scale of 1-99, with 99 representing the security that the highest percentage of funds are shorting. As of May 2024, TSLA shares are at the top of Hazeltree’s list.
Hazeltree describes the source of its data as follows: “The data sourced in this report comes from Hazeltree’s proprietary securities finance platform data, which tracks approximately 15,000 global equities across the Americas, EMEA, and APAC. The data is aggregated and anonymized from the contributing Hazeltree community, which includes approximately 700 asset manager funds.”
Following Tesla in the list of the US’ most shorted large-cap securities are Microchip Technology Inc., which has a crowdedness score of 97; Chevron Corp., which has a crowdedness score of 97; Advanced Micro Devices Inc. (AMD), which has a crowdedness score of 82; and Charter Communications Inc., which has a crowdedness score of 82.
Tesla shares are currently facing headwinds amidst the impending 2024 Annual Stockholders’ Meeting on June 13, 2024. Tesla investors are poised to vote on several proposals at the upcoming event, the most notable of which are the ratification of Elon Musk’s 2018 CEO Performance Award and the proposed redomestication of Tesla from Delaware to Texas. Tesla currently trades at $169.32 per share as of writing, giving the EV maker a market cap of $539 billion.
The May 2024 Hazeltree Shortside Crowdedness Report can be viewed below.
Hazeltree May Shortside Report_Final by Simon Alvarez on Scribd
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The post Tesla (TSLA) stock listed as May’s most-shorted large-cap stock by Hazeltree appeared first on TESLARATI.
Source: https://www.teslarati.com/tesla-tsla-stock-may-2024-most-shorted-large-cap-stock-hazeltree/
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