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Tesla shares shorted fell in June but not because of a short squeeze, says analyst

The number of Tesla Inc. TSLA, -1.99% stocks shorted fell by way of 4.2 million stocks in June, however that wasn't as a result of a brief squeeze, consistent with Ihor Dusaniwsky of monetary technology and analytics firm S3 Partners. He wrote Friday that 60% of the decrease in stocks shorted "occurred when Tesla's stock price fell 7% after hitting its year-to-date high in mid-June," meaning it used to be "definitely not the result of any type of 'short-squeeze.'" Tesla's inventory fell 2% in Friday trading, however Dusaniwsky mentioned it used to be the result of "long sellers pushing the stock price down," given that there used to be only a slight building up within the number of stocks shorted, consistent with his research. "Tesla's hitting or missing its 5,000 car/week end of June production rate target will generate significant mark-to-market profits and losses for long and short shareholders," he wrote. Tesla's inventory is down 5% over the last 12 months, whilst the S&P 500 SPX, +zero.08% has gained 12%.