To The Moon

$Tesla Motors(TSLA)$ 17.6% of hedge funds are now shorting Tesla, $TSLA, the highest share in over a year. This is up from 13.9% recorded three months ago, according to Hazeltree which tracks over 500 funds. Last week, Tesla's short sellers lost $3.5 billion in just 2 days the company beat expectations for Q2 2024 vehicle deliveries. Since the April 2024 low, the stock is up almost 80% and added ~$350 billion in market cap. It is now up 1% year-to-date after initially falling 42% in the first 4 months. Incredible turnaround.

$Tesla Motors(TSLA)$ not surprised to see it slowing down here on the weekly where it previously ran into resistance. there's multiple rejection areas between $260-$280 from June-Dec, 2023. It'll probably take a catalyst like earnings or the Robotaxi 8/8 event for bulls to continue towards $300. And once above $300, it'll likely grind up to ATH's.