Who sells shorts? Elon Musk sells shorts
No, instead, Tesla (TSLA) sells on its website a marked pair of red, satin shorts – a blow to investors who have “shortened” the company, essentially betting on a stock drop.
Unfortunately, for all readers who would be willing to shell out $ 69,420 (yes, really) for a pair of tiny Tesla gym shorts, they’re already sold out. Apparently they set off quickly: Shortly after announcing that the panties had sold out, Musk Tweeted, “Dang, we ruined the website.”
“Tesla will make shiny shorts in bright red satin with gold embellishment,” Musk Tweeted last week, hinting at a new merch. “We will send some to the Commission to enrich short sellers to comfort them in these difficult times.”
In typical men’s fashion, that tweet arrived a little earlier another color request apparently he also targeted his suspects and the Securities and Exchange Commission: “SEC, an acronym with three letters, the middle word is Elon.”
Only last year, Tesla was tied up for money. In May 2019, the electric car maker sold debt and additional stock shares to raise $ 2.7 billion to replenish its coffers. The reduced share price forced the company to pay off $ 920 million in bonds in cash rather than shares. In its ten-year history, the company has made only a few quarterly earnings.
But in January, the company made its first annual profit – and the company’s positive momentum continued from there.
Despite interruptions to the coronavirus pandemic – including home orders that Musk called “fascist” – Tesla last week released relatively strong car delivery numbers in the second quarter.
The company delivered 90,650 cars to customers during the quarter, down five percent from a year ago, but far less than the 30 percent or more declines reported by other carmakers. Tesla’s second-quarter sales were also slightly higher than the 88,400 cars it shipped in the first quarter.
Cars are celebrated on Tesla’s new shorts. The back of the shorts contains each Tesla model number “S3XY” decorated with gold letters.
According to Tesla, the shorts will provide “exceptional comfort from closing the bell.”
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