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Days to cover dropped 30% in the past month!!! Just announced!!

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Yes. However this percentage demonstrates how much short interest there is relative to daily trading volume. This is important, I think. One metric used to calculate what companies have the highest short interest is to measure what companies have the highest number of days to cover. The 20% drop occurred on the 14th, after this data was sent for release. The percentage of shorts that responded to this event will not be included in this data. I would anticipate that number to be fairly high, especially after the rapid recovery.
 
Here's a good explanation of "Short Interest".

As you can see, the days to cover number dropped only because there was such a large volume of shares taking place. It will be more interesting to see what the short interest is at the end of the month.

Unless the stock makes a very rapid ascent up to $40, I don't think there is a possibility of a short squeeze. TSLA is just too freely traded for that. There always seems to be plenty of shares available.