Cannabis-Users Require More Anesthesia During... Privacy Policy / Do Not Sell My Personal Data. Vous pouvez modifier vos choix à tout moment dans vos paramètres de vie privée. Benzinga does not provide investment advice. Nikola short sellers may be forced to buy due to fees and losses, The company is the sixth largest short in the auto manufacturing industry, June mark-to-market losses for auto shorts at $2.58 billion, largely due to Tesla. Dusaniwsky said Nikola has already accumulated $526 million in short interest, about 5.2% of its float. Dusaniwsky said Nikola has already accumulated $526 million in … Stock borrow costs on existing short … The short seller’s report claims that Nikola is an “intricate fraud built on dozens of lies”. Benzinga’s Take: Nikola short sellers likely see the company’s valuation as even more egregious than Tesla’s. Create one. Major Squeeze Coming? Short sellers are getting squeezed in the stock of Nikola, which has rapidly become one of the most heavily shorted automotive stocks in the U.S. Benzinga's Bulls And Bears Of The Week: AT&T, Apple, Tesla And More, Analyst Predicts 'Initially Negative Reaction' In Auto Stocks If Democrats Sweep Election, Kyle Bass-Led Hedge Fund Adds 9% Stake In EV Charging SPAC, Hyundai Recalls Kona EV Over Battery Fire Concerns, New Tesla Model 3 Refresh Spotted In Fremont. In response, the electric truckmaker issued a lengthy statement to set the “record straight” on the “false and defamatory” report. Mark-to-market losses this month for short sellers targeting the Auto Manufacturing Sector is $2.58 billion, and most of this is attributable to electric vehicle makers. Stock borrow rates for Nikola are soaring due to heightened short selling demand and limited lending supply. "NKLA’s lack of supply has two main drivers, lack of institutional long shareholders and large amount of insider shareholders," said Dusaniwsky. Posted-In: Ihor Dusaniwsky S3 PartnersAnalyst Color Short Sellers Analyst Ratings Trading Ideas Best of Benzinga, Thank you for subscribing! A Short Squeeze is when a company with a high degree of short interest increases in price, which forces short sellers to "cover" their short interest buy buying actual shares, which in turn drives the price up even further. The stock has plunged 22% over the past week. Short sellers have made a killing on the fraud allegations up to this point, but Dusaniwsky said Monday the Nikola short-seller party could soon come to an abrupt end. The stock’s performance in the last two weeks is certainly impressive, but a spike in borrow rates suggests the big move may just be getting started. Get pre-market outlook, mid-day update and after-market roundup emails in your inbox. © 2020 Benzinga.com. The stock market consists of exchanges or OTC markets in which shares and other financial securities of publicly held companies are issued and traded. View the Latest Analyst Ratings. Everything you need to know about the market - quick & easy. All rights reserved. Yahoo fait partie de Verizon Media. The Phoenix, Arizona-based company, which recently went public, is already the sixth-largest short in the auto industry with $526 million of short interest. The recent trading action is a … Nos partenaires et nous-mêmes stockerons et/ou utiliserons des informations concernant votre appareil, par l’intermédiaire de cookies et de technologies similaires, afin d’afficher des annonces et des contenus personnalisés, de mesurer les audiences et les contenus, d’obtenir des informations sur les audiences et à des fins de développement de produit. Short covering is a strategy where somebody who has sold an asset short buys it back to close the position. Don't have a Benzinga account? And finally, we are seeing stock borrow recalls hitting the street, forcing some shorts to buy-to-cover and close their positions as there is no stock borrow supply available to replace those recalled stock borrows.". Do you agree with this take? “We will probably see a short squeeze in NKLA very soon … This combination makes Nikola a "prime target for a short squeeze," said Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners in a new note. If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com. … Informations sur votre appareil et sur votre connexion Internet, y compris votre adresse IP, Navigation et recherche lors de l’utilisation des sites Web et applications Verizon Media. Short interest on NKLA ( NKLA) was at $387 million, or 8.69% of its float. Disclosure: We are short shares of Nikola Corp (NASDAQ:NKLA) Legal Disclaimer. The offers that appear in this table are from partnerships from which Investopedia receives compensation. In real estate, a short sale is when a homeowner in financial distress sells their property for less than the amount due on the mortgage. Nikola's stock traded around $66.14 at time of publication. "The lack of stock borrow supply has throttled any chance for short sellers to build their position and create negative stock price pressure in the stock. Short Interest is the total number of open short positions of a security.
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