Cost to borrow shares for shorting is at 3.66% per year, it has dropped off a cliff. 500k+ shares to borrow via Automated Lend Desk, more if you call for a larger block.
Big difference from 4 weeks ago when it was at 50% annual cost to borrow shares.
This will likely be my final update on this issue, I posted at various times so people could see what was happening on the short side. As you can tell, the shorts are back in town, the squeeze is over.
Longs, you have to justify price on the basis of what Tesla can earn now, not dream about selling to some desperate short - because there are plenty of shares and they are cheap.
they have been letting people short tesla throughout, what's changed is the cost to borrow. This stock WAS in a short squeeze and the price runup was justified on those grounds. But its over. Watching the cost to borrow shares drop from 50-60% to 3.66% tells you the squeeze is no longer in play.
At this point if you are long, calculate the entire runup that short covering generated, and chop off 1/2-2/3, cause its coming back off.