U.S. Markets close in 4 hrs 28 mins

Short sellers are to blame for the drop in Tesla's stock, Bank of America claims

Thomas Franck

"It appears much of the pressure on the stock over the past few days/weeks has been driven by shorts pressing aggressively," BofA analyst John Murphy writes. Tesla stock is down nearly 40% in the last six months and down 26% since April 1. Tesla's TSLA  recent stock price plunge is likely due to short sellers increasing their bets against the company, Bank of America told clients Wednesday.