“Tesla will make fabulous short shorts in radiant red satin with gold trim,” tweeted Elon Musk.
San Francisco:
Tesla founder Elon Musk mocked securities regulators and short sellers in a series of tweets on Thursday as tech entrepreneur celebrated his company’s rise as the most valuable automaker in the world.
The taunts came as the electric automaker’s actions escalated to the news that it had produced more than 82,000 vehicles and delivered about 90,650 in the last quarter, despite production disruption due to the coronavirus epidemic.
Tesla’s shares closed the official trading day by almost eight percent, which means that investors who bet on the stock by tumbling stocks had losing positions.
The Californian company’s market capitalization has reached $ 224 billion, surpassing Toyota to become the most valuable automotive company.
“Tesla will make fabulous short shorts in radiant red satin with a gold trim,” Musk tweeted.
“I will send some to the Shortseller Enrichment Commission to comfort them through these difficult times.”
The reference was obviously a play on the name of the Securities & Exchange Commission, with which Musk has clashed in the past.
“SEC, a three-letter acronym, the middle word is Elon,” Musk said in a separate tweet.
Musk, who turned 49 last month, is considered a visionary and inventive boss, but is also very unpredictable, especially on Twitter, where he often communicates in disregard of the rules imposed on executives of listed companies.
The fraud charges arising from a Musk tweet once cost him $ 20 million and the implementation of a requirement that his use of social media should be supervised by Tesla.
Tesla’s ramp-up came as Detroit engines, General Motors and Fiat Chrysler, announced a drop in auto sales amid the coronavirus pandemic.
The company still only sells a fraction of its rivals’ automobiles, but it captured the imagination of investors as a bet on the future under the charismatic leader Musk, who challenged conventional wisdom on CEO behavior. while trying to move the industry to electric cars.
(This story has not been edited by GalacticGaming staff and is automatically generated from a syndicated feed.)
