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Shorten our stocks as you wish, but Tesla continues to break records. Elon Musk started selling shorts to stab investors

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It’s only been a month since Tesla, for the first time in its history, broke the magical limit of $ 1,000 per share on the stock exchange. At the same time, thanks to that, at least for a while she jumped over Toyota and Elon Musk suddenly became the head of the world‘s most valuable car manufacturer. However, Tesla’s frantic ride in uncertain times is far from over.

Teslaq closed the Nasdaq market for the first time on June 10 for more than a thousand dollars per share. Since then, the value of securities with a TSLA ticker has skyrocketed by more than 33 percent (by more than 200 percent since the beginning of the year), and after the markets closed yesterday, the price of one piece even climbed to over $ 1,430.

Not only does Elon Musk, as the company’s largest shareholder, become one of the richest men on the planet (currently peeking out of the top ten richest), but the 43-year-old visionary enjoys the current ride for another reason. It is a great satisfaction for him against many eternally doubtful investors who have long relied on Tesla’s failure.

These are so-called “shorters” who speculate on a decline in shares by borrowing, selling them expensively and then wanting to buy them cheaper, earning the difference between selling and buying – provided the value of the shares actually falls.

Tesla began selling short red satin shorts

It has been around Tesla that they have blessed in recent years. However, the California carmaker is still doing better than expected, despite coronavirus, it has had a good quarter, so Elon Musk decided to shoot a little out of unbelieving investors. A limited edition of short red satin shorts has appeared in the Tesla e-shop, which is nothing more than a symbol of how the company is now doing.

Already a name „Short Shorts“ points to the (at least so far) unsuccessful shorts who have already lost on the stock market due to the rising share price of TSLA billions of dollars, and Musk did not miss the opportunity to set the price. The shorts, on which the S3XY inscription (symbolizing the carmaker’s model line) is printed next to the Tesla logo, cost $ 69,420.

You may be thinking that about 1,600 crowns per piece of fabric is a bit enough, and although it really is, the joke lies mainly in the number 420 after the decimal point. That’s exactly how much – $ 420 per share – Elon Musk announced on Twitter two years ago that he planned to withdraw Tesla from the stock exchange, causing a big crack.

Because he claimed at the time that he had secured funding, which turned out to be not true, Musk had to accept several punishments for deceiving investors and manipulating the share price and himself to start checking more on Twitter. Although he does not always succeed, in today’s view of the share price, he probably has to smile that he did not succeed in the withdrawal from the stock exchange at that time. More than three times the value of his shares is definitely not against his fur.

And to go back to the high price for satin shorts, of course no one minds. As soon as Elon Musk introduced them on Twitter, the Tesla e-shop immediately dropped out and the product was sold out shortly. It is now written on the web that the next batch will be in stock in two to four weeks. It is already clear that it will be a hot commodity. In addition, Tesla’s supporters are already trying to buy shorts so that they can send them to unsuccessful shorts.

In addition, Tesla does not seem to be stagnating in the rapid growth of the stock market. The financial results for the last quarter, in which the company could approach black numbers, as well as new analysts’ forecasts, can also delve into the share price. For example, Joseph Osha of JMP Securities raised his price target from $ 1,050 to $ 1,500 per share late last week, which also sent them up.

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The reason was simple. While the automotive world around the world is counting on significant losses and declining sales, Tesla is navigating the coronavirus crisis much better. According to Osha, Tesla can make up to $ 100 billion in annual sales by 2025. The current market value of the company exceeds $ 254 billion, and although many investors do not believe that the shares are so highly sustainable in the long run, the shortcuts are still losing out.

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The shorts also feature the Tesla logo and the S3XY inscription indicating the individual models

Photo: Tesla / CzechCrunch

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