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Tesla Sells Out of '$69.420' Short Shorts

Musk taunts short sellers with 'fabulous' shorts
By Rob Quinn,  Newser Staff
Posted Jul 6, 2020 2:49 PM CDT
Musk Mocks Short Sellers With $69 Tesla Short Shorts
Tesla and SpaceX CEO Elon Musk jumps in the air as people applaud during an event at the Vehicle Assembly Building on Saturday, May 23, 2020, at NASA's Kennedy Space Center in Cape Canaveral, Fla.   (AP Photo/Alex Brandon)

(Newser) – After a surge in Tesla's share price, CEO Elon Musk celebrated in typically understated fashion: He taunted short-sellers by selling short shorts through Tesla's online store, apparently setting the price at the first numbers that came into his head: $69.420. CNET notes the 420 part might be a reference to weed, but points out it's also the number Musk trotted out in an infamous August 2018 tweet: "Am considering taking Tesla private at $420. Funding secured." The Securities Exchange Commission responded by suing Musk.

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Tesla's share price has more than quintupled since this time last year and is trading up 12% on Monday as of this writing. Musk tweeted last Thursday that he would "make fabulous short shorts in radiant red satin with gold trim" and send some to the "Shortseller Enrichment Commission to comfort them through these difficult times," Sky News reports. A Sunday tweet provided a way to buy the shorts, which have the word "S3XY" in gold on the back. They've already sold out. (The $500 flamethrowers Musk sold in 2018 also sold out in a flash.)

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