Good news for Apple as Tesla has lost the infamous “most shorted stock” title as Apple’s stock rises above Tesla’s in US, a report from short-seller analytics firm S3 Partners revealed on Wednesday. The recent trend shows that investors are betting more money against Apple as compared to Tesla for the first time since April 2020.
Ihor Dusaniwsky, Managing Director of Predictive Analytics at S3 Partners commented in a research report, “Tesla Inc has held the top spot in the short interest league tables for 864 days, almost two and a half years since April 2020 but Apple Inc has recently recaptured the crown.”
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The reports said that short interest in Apple has surged to $18.4 billion, which exceeds Tesla’s short interest of $17.4 billion.
After the surge, Apple in becomes the most heavily shorted US company by dollar amount. The title was held by Elon Musk’s company for 864 days.
As of Wednesday, around 113 million Apple shares were sold short, which represents 0.7 per cent of Apple’s shares publicly available.
On the other hand, around 57 million Tesla shares sold short which means about 2.2 per cent of Musk’s float.
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Recently, Apple’s in-app purchases climbed significantly more than the monthly or yearly purchases. The average cost of in-app purchases soared by 40 per cent.
Citing data from Apptopia, which is an app intelligence company, people are witnessing price increases practically everywhere, with the consumer price index in the United States rising 8.5 per cent year over year.
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