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Since April 2020, Tesla has been awarded the title of "Wall Street's No. 1 Shorting Target". Now, however, Apple has finally surpassed Tesla and regained its title as Wall Street's biggest short target.

　　Apple overtakes Tesla as Wall Street's top short target

　　Apple's short position was $18.4 billion as of Wednesday ET, ahead of Tesla's $17.4 billion short position, according to research by financial data and analytics firm S3 Partners.

Apple and Tesla short positions since 2020 (Tesla in blue, Apple in red)

　　Tesla has been the most shorted stock on Wall Street for 864 days since April 2020, S3 Partners reported. Both companies have far more short positions than third-ranked Microsoft Corp., which has a short position of $11 billion as of Wednesday.

　　Ihor Dusaniwsky, head of predictive analytics at S3 Partners, wrote in a research note that the change largely reflects bears trimming their Tesla short bets rather than being aggressively aggressive. Short Apple .

　　Both Apple and Tesla have seen a net reduction in their short positions over the past thirty days, but Tesla’s short position has declined more sharply: Apple’s short position has decreased by a net $790 million, while Tesla’s Short positions decreased by a net $1.864 billion.

Number of shares shorted in Apple and Tesla since 2020 (Tesla in blue, Apple in red)

　　Data from S3 Partners also shows that since 2020, the number of stocks shorting Tesla has generally declined, while the number of stocks shorting Apple has generally fluctuated with little change.

　　Dusanisky pointed out that the number of shorts on Apple's stock has indeed increased in the past three months, but the more important factor may be the increase in Apple's stock price. In the past three months, Apple's stock price has risen by nearly 20%, and the overall performance has far exceeded the market.

　　While Tesla's stock has also been strong over the past three months, up 37%, there has been some short-covering on Tesla over the past 30 days, making the short position less likely to increase, Dusaniski said. Stock prices rose.