Musk puts short-sellers in sexy Tesla ‘short shorts’
Elon Musk celebrates his victory against critical short-sellers in a typical way. Anyone visiting Tesla’s webshop will find a striking addition: bright red shorts. The shorts are provided with the car manufacturer’s logo at the front and the inscription ‘sexy’ at the back. And they are an instant hit.
Fans pay $69,420 (€75 in Europe) for it, and that price is no coincidence. It is a reference to the 420 dollar price tag, which Musk quoted to shock the stock exchange in 2018 by twittering: “Am considering taking Tesla private at $420. Funding secured.”
Elon Musk wants to throw oil on the fire once again by provoking the short-sellers who speculated on a negative stock market price change of the Tesla share. One of them, hedge fund manager David Einhorn, had already received a box of Musk shorts as a present. Now Musk offers the real Tesla shorts for sale on the internet for $69,420.
Tesla made no profit for years and was plagued by production problems. That fact, combined with the eccentric behavior of the driving force behind the company, makes the car manufacturer a popular target for short-sellers. The latter, meanwhile, have made a billion-dollar loss, and Musk wants to dog them with the red shorts.
At the closing of the trading in Europe, the price of a Tesla share was around $1 330 on Monday. Merely thanks to the success of the affordable Model 3. In value, Tesla is now worth more than Toyota. The question is whether this will continue to be the case, as the established car brands are catching up on fully electric models, but they also face similar production and supply problems.