Tesla Motors - short squezze coming to the end
Tesla Motors, electric eco-vehicles manufacturer run by Elon Musk, has its days. Most recently it goes up parabolic. Probably one of the main factors behind this super bull market is the short squezze:
On March 15 many players were betting on Tesla shares going down - 28,4% of shares outstanding were being shorted. That's quite a big number. After that day the price of Tesla went parabolically up and on May 15 there were "only" 20,2% of shares shorted. During that short squezze period the price went 228% up.
But O.K. - this is the fact very well known. The aim of that blog is to present in a simple way things not very well known. Therefore let's look below:
source: Proste Dywagacje
That chart shows something annoying for the bulls - despite very strong up trend the number of days up is sharply going down. This kind of behaviour rather doesn't support the Tesla bulls.....