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Tesla, Micron Send Short Sellers Packing Amid Record-Breaking Rally

Tesla and $Micron Technology(MU)$   saw short sellers retreat on Wednesday, dissuaded by their record-breaking rally. 

Trading in borrowed $Tesla Motors(TSLA)$   stocks that were sold short declined for a third straight session to 2.39 million shares during the previous trading session when markets closed early for the Christmas Eve. That represented about 5.8% of the total number of shares that changed hands on that thin volume day. 

While Tesla was down slightly at $482.65 in the first half hour of trading Friday, that's still near its all-time high of $498.83 reached just earlier this week. 

Short interest, or the tally of shorted Tesla shares that haven't been closed stood at 74.68 million shares as of Dec. 15, the latest exchange data showed. That's down from 78.3 million shares two weeks earlier and 86.2 million shares in mid-September.

$Micron Technology(MU)$  's short volume shrank to 1.21 million, from 9.41 million a week ago. Short sellers went packing amid a 27% jump in the share price since Dec. 17, when the memory chip maker reported stellar results that disproved skeptics looking for reasons to sell the stock.

The stock opened at a fresh all-time high of $290.87 in early trading Friday, before giving back some of those gains.

Micron's short interest stood at 25.15 million shares as of mid-December, two days before the blowout financial results came out. 

$Nike(NKE)$  's short volume rose to almost 5 million shares, from 3.94 million shares Tuesday. The stock gained 4.6% on Wednesday amid reports that $Apple(AAPL)$   CEO Tim Cook, who sits on the board of the shoe and apparel maker, boosted his stake in the company.

Cook purchased 50,000 Nike Class B shares on Dec. 22, worth about $2.95 million, according to a filing with the Securities and Exchange Commission after the market closed on Tuesday. That took Cook's direct ownership in Nike to 105,480 shares, helping boost sentiment for a stock that has tumbled more than 20% this year.

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