Shulou(Shulou.com)11/24 Report--

Beijing, September 15 (Xinhua) Apple replaced Tesla on Wednesday to "recapture" Wall Street's position as the most shorted stock on Wall Street. Tesla has occupied this "laurel" since the early days of the COVID-19 epidemic.

As of Wednesday, Apple's short selling of shares totaled $18.4 billion, surpassing Tesla's $17.4 billion, according to research by financial analysis firm S3 Partners. Tesla was the most shorted stock on Wall Street for 864 days since April 2020, until Apple "regained" its position. The total short positions of both companies far surpassed those of Microsoft, which ranked third, with a short position of $11 billion as of Wednesday.

Ihor Dusaniwsky, managing director of S3 Partners Forecast Analysis, wrote in a research note that the change largely reflects a reduction in short sellers' exposure to Tesla rather than a major adjustment in actively shorting Apple.

At the same time, the recent rise in Apple's share price has also affected investors' short selling against it. Apple shares have risen 17% over the past three months and have outperformed major stock indexes so far this year. Short sellers make a profit by betting on falling share prices.

"the increase or decrease of the total amount of short-selling shares depends on the increase or decrease of short-selling stocks and changes in stock prices. therefore, if the number of short-selling stocks remains the same, but the price of the stock increases, the total amount of short-selling shares will increase. However, when there is no short trading, short selling or covering, the change in the total amount of short-selling shares has no effect on the rise or fall of the market price of the relevant stocks." Dusaniski said.

Du Sanisky pointed out that Tesla's stock has also been very popular in the past three months, up 37%, and there have been some short covering to Tesla in the past 30 days. He added that he saw an increase in the number of people shorting Apple shares over the same period. If calculated from the beginning of 2020, investors have covered their net short positions in both Apple and Tesla stocks.

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