Tesla became the most shorted large-cap stock in the U.S. in May!
Since the beginning of this year, due to slowing demand and intensified competition in the electric vehicle market, Tesla's stock price has dropped by more than 30%. All key indicators of the company have shown significant declines, including negative revenue growth and deteriorating free cash flow. Chevron, which has been replaced by Tesla, is the third most shorted large stock
According to the monthly report released by data and technology company Hazeltree on Tuesday, Tesla (TSLA.US) became the most shorted large US stock in May. This year, due to slowing demand and intensified competition in the electric vehicle market, Tesla's stock price has dropped by over 30%. The company has seen significant declines in all key indicators, including negative revenue growth and deteriorating free cash flow.
Chevron (CVX.US), which was replaced by Tesla, is the third most shorted large stock. After a strong performance at the end of 2021 and the beginning of 2022, Chevron's stock has underperformed in the past 12 months, lagging behind the S&P 500 index.
In addition, several semiconductor companies including Microchip Technology (MCHP.US), AMD (AMD.US), and Synopsys (SNPS.US) were among the most shorted large stocks last month. According to Hazeltree's data, here are the top 10 most shorted large US stocks in May.
