Apple is now the market's most-shorted stock. If Tesla is an example, that's bullish. - MarketWatch

Apple is now the market's most-shorted stock. If Tesla is an example, that's bullish. - MarketWatch

Apple is now the market's most-shorted stock. If Tesla is an example, that's bullish. - MarketWatch
Sep 16, 2022 1 min, 5 secs

14, a total of $18.4 billion worth of Apple shares were sold short, eclipsing Tesla’s total of $17.4 billion.

Perhaps the first clue that Apple investors nevertheless need not worry comes from Tesla’s market-beating performance even though it topped the most-shorted list.

Apple investors can only hope they outperform the market by as much during the time the company is the most-shorted.

The better reason for Apple investors not to worry is that the sheer dollar amount of shares sold short is “pretty meaningless,” Jay Ritter told me in an email.

A large dollar amount of Apple shares may be sold short, but the company also has the largest market cap of any publicly traded company in the world.

Among the more relevant short-selling metrics are the short-interest percentage (the number of shares sold short expressed as a percentage of the total number of shares outstanding) and the days-to-cover ratio (the number of shares sold short divided by average recent daily trading volume).

According to FactSet, in terms of the short-interest ratio Apple ranks in 477th place among the 500 stocks within the S&P 500?

He added that he is not aware of any academic research that has found the sheer dollar value of shares sold short to be correlated in any meaningful way with a stock’s subsequent performance.

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