SEC needs to reign in shortselling altogeher. Need to get integrity back in US markets.
READ FROM FRIDAY EVENING:
NKLA) - Nikola Corporation - Common Stock's Short Interest Down 12%
5:43 pm ET December 10, 2021
What happened: Nikola Corporation - Common Stock's (NASDAQ:NKLA) short interest has fallen 12% since they last reported. The company recently reported that it has 51 million shares sold short, which is 25.71% of all regular shares that are available for trading. At its current trading volume, it would take traders 4.6 days to cover their short positions on average.
Why it matters: Short interest is the number of shares that have been sold short but have not yet been covered or closed out. Traders make money from a short position if the price of the stock falls and they lose if it rises. Falling short interest can be a sign that the market is more bullish on a stock.
In Nikola's case, the number of shares sold short has decreased 12% since their last report. This could be a sign that the market is becoming more bullish on it.