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Delnica je vrednostni papir, s katerim je mogoče trgovati na različne načine. Manj poznan način trgovanja, predvsem v Sloveniji, je trgovanje z delnicami na kratko (ang. short selling). V diplomskem delu je najprej predstavljen pojem delnice, nato vrste delnic in način trgovanja z njimi. Glavna tema diplomske naloge je prodaja delnic na kratko. Obravnavan je pojem prodaje na kratko ter razvoj tega instituta skozi čas. Nato je podrobno pojasnjen potek prodaje na kratko in vpliv prodaje na kratko na finančne trge. Opravljena je tudi primerjava z osnovnim načinom trgovanja z delnicami (ang. going long). Za lažje razumevanje je short selling z delnicami predstavljan še na primeru. V nalogi so opredeljena tudi pravna razmerja pri prodaji na kratko, vpliv prodaje na kratko na korporacijske pravice delničarjev in vpliv razdelitve ter združitve »shortanih« delnic na prodajalca na kratko. Naloga predstavlja tudi pravno ureditev prodaje na kratko v Evropski uniji, Avstraliji in v Sloveniji. Pravna ureditev prodaje na kratko v Sloveniji je predstavljena kot de lege lata in de lege ferenda. A share (stock) is a security which can be traded in different ways. Less known pattern of trade, especially in Slovenia, is short selling. This thesis firstly represents the concept of shares, which is followed by types of shares and their patterns of trade. The main topic of the thesis is short selling. The thesis discuses the concept of short selling and the development of this institute trough time. Then it represents a detailed explanation of short selling and its impact on financial markets. The thesis includes also the comparison with the conventional practice of trading (going long). For better understanding, short selling of shares is presented also on an example. The thesis defines also legal relations in short selling, the impact of short selling on corporate rights of shareholders and the impact of split up and split down short-sold shares on the short seller. The thesis represents also the short selling regulation in the European Union, Australia and Slovenia. The short selling regulation in Slovenia is presented as de lege lata and de lege ferenda.