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Tesla, Electronic Arts, Riot, Intel See Rising Short Volume

Tesla, $Electronic Arts(EA)$  , $Riot Platforms(RIOT)$  , and $Intel(INTC)$   saw their short volume rise Friday as investors recalibrated their positions amid a slew of corporate news that could influence the movement in their share prices. 

Trading in borrowed $Tesla Motors(TSLA)$   shares rose to 9.17 million shares, from 7.11 million a day earlier, exchange data showed. Tesla’s short interest, or the total of borrowed shares that haven't been closed out, was at 86.21 million shares as of mid-September, the latest data available for that figure.  

Tesla shares rose almost 2% to $448.11 Monday, weakening the prospects for short sellers seeking to benefit from a reversal of fortune for the EV giant whose stock has almost doubled from this year's low. 

The continued rally comes even as the company is expected to report another quarterly decline in deliveries for the third quarter later this week. Analysts, on average, are predicting that Tesla will report 435,319 vehicles sold during the period, according to Bloomberg consensus. That's down from the 462,890 vehicles the company delivered last year. 

The delivery data is scheduled for release just days after the European Automobile Manufacturers Association reported a 37% slump in Tesla sales in August in the region. That contrasts with a 30% rise in battery-electric vehicle sales across the region. 

The stock rally that's been hurting short sellers comes as bulls price in the company's shift to robotaxis and humanoid robots. Last Friday, Wedbush analyst Daniel Yves raised his price target on the stock to $600 from $500, citing the potential for Tesla's market capital to hit $2 trillion early next year, before climbing to $3 trillion by the end of 2026, under a bull case scenario. 

Electronic Arts saw its short volume climb to 2.23 million shares on Friday, from just 214,060 shares a day earlier, as the stock climbed 15% amid reports that the video-game company was being taken private by a group of investors. 

The company confirmed the $55 billion take-private cash deal Monday. Shares jumped another 4.9% to $202.84 at 9:50 a.m., nearing the buyout price of $210 a share. The deal weakened the prospects for short sellers, likely sending them in retreat. As of mid-September, the short interest was at 9.54 million shares, exchange data showed. 

Intel's short volume rose to 24.9 million shares Friday as the stock rallied to the highest in more than a year, buoyed by reports that the company is seeking an investment from $Apple (AAPL.US)$, helping bolster the legacy semiconductor's balance sheet after the U.S. government and $NVIDIA (NVDA.US)$ recently poured money into the company.  

Shares retreated 3.6% to $34.20 Monday morning, paring its advance since the end of July to 72%. 

See the other stocks with notable changes in short volume, including Riot below: 

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