Tesla Motors (TSLA) : Traders are negative on Tesla Motors (TSLA), as it has 23.6% of short positions outstanding compared to its float. The total shorts have reduced by -600,856 shares, which is a -2.2% reduction. From Jul 29, 2016, to August 15, 2016, the shorts came down from,26,963,483 to 26,362,627 shares. While the daily trading volume of the stock is 2,884,474, there are 9 days remaining to cover the open short positions. The short interest indicates that the traders dont see a large downside in the stock from the current levels. The short interest information was released on Wednesday Aug 24th after the market close.
Tesla Motors (NASDAQ:TSLA): The stock opened at $227.05 on Wednesday but the bulls could not build on the opening and the stock topped out at $227.15 for the day. The stock traded down to $222.22 during the day, due to lack of any buying support eventually closed down at $222.62 with a loss of -0.99% for the day. The stock had closed at $224.84 on the previous day. The total traded volume was 2,567,493 shares.
In a related news, Musk Kimbal, director of Tesla Motors Inc, unloaded 460 shares at an average price of $224.37 on June 13, 2016. The total amount of the transaction was worth $103,210, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.
Tesla Motors, Inc. is a United States-based company, which designs, develops, manufactures and sells electric vehicles, electric vehicle powertrain components and stationary energy storage systems. The Company sells and produces a vehicle under the name Model S, which is a fully electric, four-door, five-adult passenger sedan. In addition to developing its own vehicles, it develops, sells, and services full electric powertrain systems and components to other automobile manufacturers. It also produces and sells stationary energy storage products for use in homes, commercial sites and utilities. The applications for these battery systems include backup power, peak demand reduction, demand response and wholesale electric market services. It sells its vehicles through its own sales and service network. The Company also offers the Model X electric car, Supercharger charging stations and Powerwall, a home battery.