Tags: Financial Markets | Tesla | Elon Musk | stocks | short shorts | short sell | electric car

Tesla Takes a Jab at Short-Sellers by Selling 'Short Shorts'

musk in a black leather jacket and black top
Tesla CEO Elon Musk (Win McNamee/Getty Images)

By    |   Monday, 06 July 2020 11:07 AM

Tesla fans can now own a pair of Tesla-branded “short shorts.”

CEO Elon Musk taunted short-sellers by putting “short shorts” for sale on the company’s website.

The red satin shorts with gold trim feature a Tesla logo on the front left side and “S3XY” printed across the back. The cost: $69.420.

The “420” is a possible reference to the share price at which Musk said he had secured funding to take the company private, which led to a lawsuit from the U.S. Securities and Exchange Commission, Fox Business reports.

“Enjoy exceptional comfort from the closing bell,” the website said.

Musk tweeted about the "limited edition" short shorts being for sale on Sunday. 

Shares of the electric-car maker surged 189% this year. On Thursday, shares finished at a record high of $1,208.66. The price resulted in short sales.

According to the Dow Jones Market data, short interest in Tesla shares was 15.14 million, or 10.27% of shares available for trading, as of June 15. That was down from a record 43.664 million in May 2019, when the stock was trading near $185.

The "shorts sale" isn’t the first time Musk has taken a jab at short-sellers. In 2018, he sent a box of short shorts to hedge fund manager David Einhorn and last November offered to send him more, according to Fox Business.

The short shorts were marked as sold out on Monday morning.

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Tesla fans can now own a pair of Tesla-branded "short shorts." CEO Elon Musk taunted short-sellers by putting "short shorts" for sale on the company's website. The red satin shorts with gold trim feature a Tesla logo on the front left side and "S3XY" printed across the back....
Tesla, Elon Musk, stocks, short shorts, short sell, electric car
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2020-07-06
Monday, 06 July 2020 11:07 AM
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