Musk ironically joked with investors: red shorts appeared in Tesla stores

Musk ironically joked with investors: red shorts appeared in Tesla stores

July 7, 2020 0 By autotimesnews

Tesla has begun selling red short sports shorts for $ 69.42 at an online car shop. The inscription S3XY is embroidered on the back of the shorts, which is interpreted as a reference to Model S, Model 3, Model X, and Model Y cars.

The shorts themselves are not so much a stylish element of clothing, but a symbolic mockery of investors who were expecting a fall in the value of Tesla shares.

Shorts in English exchange terminology means holders of short positions in the market, playing for a fall. Speculators borrow money from the broker, sell them, and then redeem them at a lower price, making a profit.

In early June, Elon Musk promised to release red shorts when Tesla’s capitalization reaches $ 200 billion. The company’s value surpassed the mark on June 30, which strengthened Tesla in the status of the most expensive automaker in the world.

The price of shorts also has a hidden meaning. It is interpreted as a reference to Mask’s joke that he was born 69 days after April 20, the date symbolic for supporters of the legalization of marijuana. Elon Musk does not hide the fact that he uses cannabis.

Red shorts are released in limited quantities and all items are already sold out.