Hyperdrive
Bearish Bets in Tesla Climb
- Short bets in the company at the highest since last May
- Tesla trading at nearly 16-month low to consensus price target
A Tesla showroom in New York.
Photographer: Mark Kauzlarich/BloombergThis article is for subscribers only.
Yet another moment of truth is approaching for Tesla, and the shorts are getting ready.
The electric vehicle maker is expected to announce its first-quarter delivery numbers some time next week, even as the company tries to make sense of a fatal crash of its Model X car in Arizona earlier this month. Bearish bets in Tesla have now risen to nearly 25 percent of its free float, touching the highest level since late May, 2017. The stock, meanwhile, has nosedived.