ADVERTISEMENT

Short sellers are piling into company

Traders have grown increasingly bearish on Tesla since the company missed its 2016 deliveries target.

null
ADVERTISEMENT

Data compiled by S3 Partners shows short interest now makes up more than 35% of the float, or shares available to the public, and that it would take 8.23 days for shorts to cover those positions.

On January 3, Tesla announced its 2016 deliveries totaled 76,230, well below the 80,000 to 90,000 that Wall Street was expecting.

"

ADVERTISEMENT

Additionally, Tesla has been burning cash at a somewhat worrying rate. While the company managed to end 2016 with $1.2 billion of cash, it's something that Wall Street continues to pay close attention to.

FOLLOW BUSINESS INSIDER AFRICA

Unblock notifications in browser settings.
ADVERTISEMENT

Recommended articles

10 African countries with the lowest life expectancy according to the World Bank

10 African countries with the lowest life expectancy according to the World Bank

Kenyan women are more obese than their men - here’s why

Kenyan women are more obese than their men - here’s why

Africa’s richest man Dangote stands between Europe and $17 billion in revenue

Africa’s richest man Dangote stands between Europe and $17 billion in revenue

After months of exchanging blows, Kenya and Uganda takes steps towards resolution

After months of exchanging blows, Kenya and Uganda takes steps towards resolution

Africa's first black billionaire could join $2.9 billion Vivendi bid for MultiChoice

Africa's first black billionaire could join $2.9 billion Vivendi bid for MultiChoice

10 most dangerous African countries in 2024

10 most dangerous African countries in 2024

Russia’s nuclear influence expands further north of Africa

Russia’s nuclear influence expands further north of Africa

Navigating the future: How AI transforms selling on Amazon

Navigating the future: How AI transforms selling on Amazon

Wall decor tips: Transforming your space with style and creativity

Wall decor tips: Transforming your space with style and creativity

ADVERTISEMENT