About 2.4 million Tesla shares were recalled by stock lenders over five days through Wednesday, said Ihor Dusaniwsky, head of research at S3 Partners. The recalls have required some short sellers to buy the stock to return it. The recalled stock amounts to 18% of the stock’s trading volume in the five-day span, another factor that’s pushing the shares higher, Mr. Dusaniwsky said.
‘People take steps to protect their voting rights’
Shareholders who lend out stock to investors are requesting that they be returned ahead of a vote over the company’s proposed merger with SolarCity.
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