Business
Ark adds Tesla shares as short bets on ETF soar – The Australian Financial Review
Ark Invest now holds a more than 0.5 per cent stake in Tesla for a weighting of 6.6 per cent across all its funds.
Meanwhile, short interest in the funds shares showed a massive spike, with 100 per cent of the shares available for shorting currently out on loan, FIS Astec Analytics data showed.
Short sellers typically borrow and sell shares they expect to fall in value, hoping to buy them back at a lower price to pay back the loan and pocket the difference.
David Lewis of FIS Astec Analytics said his firms data on borrowing costs suggest potential buying of the ETF as the price falls.
According to Ark Invests…
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