Has anyone ever heard of a company charging you interest on short position? Should I try and open an account somewhere else if I want to short TSLA? This will cost me about $13 a day.
I was called today and was told that because I shorted TSLA and stock that is in high demand to short, that I would be charged 2% interest on the 23k that position represents.
Which seems very odd to me especially since I am not getting any interest on the 23k in my investment account that I received for shorting the stock.
I don't have to pay the interest on AAPL of which I have 1000 shares shorted to the tune of 100k. Its merely due to the fact that shorting TSLA is a high demand position.