Elon Musk's Tesla launches 'S3XY' shorts for $69.420 in plan to ridicule critics
Tesla has launched a pair of pricy shorts as a way for CEO Elon Musk to taunt short-sellers.
Short sellers are people that borrow then sell stock, with the intention to repurchase the stock at a lower cost , thus making a take advantage of reductions during a share's value.
“Limited edition short shorts now available,” Musk tweeted. Shortly afterwards, he tweeted at the recognition of the shorts “broke the [Tesla] website.”
The item of clothing sells for $69.420, a regard to two internet memes.
The number ‘69’ may be a regard to a sexual position. the amount ‘420’ may be a regard to marijuana.
The shorts feature gold trim and letters which read “S3XY”. this is often a regard to the four models of Tesla car, also as being a play-on-words of “sexy.”
The product will ship within two to four weeks, the web site reads. it's 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 therefore the SEC are at odds over time thanks to the CEO tweeting that he was getting 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 often 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 a lot of of its workers have tested positive for the coronavirus. Tesla didn't comment when approached by The Independent at the time.