As a result of better-than-expected sales in its second quarter, Tesla’s stock price had reached an all-time high. Elon Musk, CEO, Co-founder of Tesla Tweeted about the same, humorous as always, making fun of the shorts for losing their money. “Shorts” refer to the people who short-sell the stocks, betting price to go down.
The Tweet said, “Tesla will make fabulous short shorts in radiant red satin with gold trim”. We now know that he was not kidding in his Tweet because they actually made it and posted it on their site where they usually sell the spare-parts of Tesla vehicles.
Tesla’s stock prices had hit a record $1200 per share. The product description of the shorts by Tesla says “Celebrate summer with Tesla Short Shorts. Run like the wind or entertain like Liberace with our red satin and gold trim design. Relax poolside or lounge indoors year-round with our limited-edition Tesla Short Shorts, featuring our signature Tesla logo in front with “S3XY” across the back. Enjoy exceptional comfort from the closing bell”.
Musk had Tweeted the link, after which the internet went crazy resulting in the malfunctioning of their website within 20 minutes of the tweet. After this, he tweeted, “Dang we broke the website”.
The shorts are priced at $69.420. 420 is the price at which Musk decided to take Tesla private a few years ago. This was long before the company’s stocks started flying rocket high. Last week he also planned of sending the shorts to SEC, who sued him for taking Tesla to private investors at $420.
Elon Musk had sent few shorts in 2018 to David Einhorn, who had the biggest Short position in Tesla to which Einhorn replied “I want to thank @elonmusk for the shorts. He is a man of his word! They did come with some manufacturing defects”.