Short sellers are people who borrow and then sell stock, with the intention to repurchase the stock at a lower price, thus making a profit from reductions in a share's value.
“Limited edition short shorts now available,” Musk tweeted. Shortly afterwards, he tweeted at the popularity of the shorts “broke the [Tesla] website.”
The item of clothing sells for $69.420, a reference to two internet memes.
The number ‘69’ is a reference to a sexual position. The number ‘420’ is a reference to marijuana.
The shorts feature gold trim and letters which read “S3XY”. This is a reference to the four models of Tesla car, as well as being a play-on-words of “sexy.”
The product will ship within two to four weeks, the website reads. It is currently out of stock.
Musk tweeted that he would “some to the Shortseller Enrichment Commission to comfort them through these difficult times”.
The tweet appears to be making fun of the Securities and Exchange Commission, a US agency which regulates stock and options exchanges.
Musk and the SEC have been at odds over time due to the CEO tweeting that he was going to take Tesla private at a price of $420 per share.
As a result, Musk had to settle a lawsuit with the agency and step down as Tesla’s chairman.
Over the past year, Tesla’s stock has almost tripled in value to approximately $1,200 per share. This is against plummeting valuations for other vehicle manufacturers during the coronavirus lockdown.
Musk has taken a negative view of the lockdown, instead ordering that plants open.
This is despite reports that many of its workers have tested positive for the coronavirus. Tesla did not comment when approached by The Independent at the time.
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