Tesla Mocks Shortsellers With Sale of Red Satin Shorts

Tesla CEO Elon Musk tweeted on Sunday, "Limited edition short shorts now available."

By Reuters | Updated: 6 July 2020 13:43 IST

Tesla Mocks Shortsellers With Sale of Red Satin Shorts

Tesla is selling the shorts at $69.420

Highlights

"Limited edition short shorts now available," Elon Musk tweeted on Sunday
Musk has often taken umbrage at short-sellers
The shorts cost $69.420 and are available on the Tesla website

After surpassing Toyota Motor as the world's most valuable automaker and stunning with forecast-beating deliveries, Tesla has taken time out to poke fun at the company's naysayers - with sales of red satin shorts.

"Limited edition short shorts now available," CEO Elon Musk tweeted on Sunday.

Limited edition short shorts now available at https://t.co/5EmNcTBvJv
— Elon Musk (@elonmusk) July 5, 2020

Musk has often taken umbrage at short-sellers and in 2018 sent a box of shorts to hedge fund owner and Tesla short-seller David Einhorn.

Elon Musk Mocks Regulators, Short-Sellers as Tesla Soars

The "Short Shorts" on the Tesla shop website feature gold trim and “S3XY” in gold across the back, which also happens to be formed from Tesla model names.

The shorts cost $69.420 (roughly Rs. 5,180), the last three digits an apparent reference to Musk's infamous tweet in 2018 that he was considering taking Tesla private for $420 (roughly Rs. 31,370) per share, with 420 also a code word for marijuana.

That tweet landed him in hot water with the US securities regulator, costing him his position as Tesla chairman.

The Silicon Valley car maker, however, has reason to crow. Its stock has almost tripled in value this year to just over $1,200 (roughly Rs. 89,625) per share and it sold more than 90,000 of its electric vehicles in the second quarter, defying a trend of plummeting sales for other automakers hit by coronavirus-induced lockdowns.

"Run like the wind or entertain like Liberace," the product description says, adding: "Enjoy exceptional comfort from the closing bell." It will ship within 2-4 weeks.

Tesla is expected to announce earnings results for April-June quarter this month, with analysts saying the second-quarter deliveries had heightened expectations that it will report four consecutive quarters of profit for the first time in its history.

© Thomson Reuters 2020

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