{"id":65385,"date":"2020-07-07T01:35:43","date_gmt":"2020-07-07T01:35:43","guid":{"rendered":"https:\/\/www.thefastfashion.com\/?p=65385"},"modified":"2020-07-07T01:35:43","modified_gmt":"2020-07-07T01:35:43","slug":"elon-musks-red-satin-tesla-short-shorts-sell-minutes","status":"publish","type":"post","link":"https:\/\/www.thefastfashion.com\/?p=65385","title":{"rendered":"Elon Musk\u2019s red satin Tesla \u2018short shorts\u2019 sell out in minutes"},"content":{"rendered":"

Elon Musk took a jab at Tesla short sellers over the weekend \u2014 announcing a limited-edition pair of satin \u201cshort shorts\u201d \u2014 and they sold out in minutes.<\/p>\n

The red-and-gold shorts, whose description on\u00a0Tesla\u2019s website<\/a>\u00a0says buyers will \u201cenjoy exceptional comfort from the closing bell,\u201d sold out in less than five minutes after Musk tweeted out the link to his nearly 37 million followers.<\/p>\n

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The sale of the shorts \u2014 which display the model names of Tesla\u2019s four vehicles, spelling out \u201cS3XY\u201d across the back \u2014 came after Tesla\u00a0crushed vehicle delivery expectations\u00a0last week, bringing its stock to an all-time high and its market cap well over $200 billion.<\/p>\n

That was a bitter blow to so-called short sellers, who place bets that a company\u2019s stock price will go down, and get slammed with losses when it rises. Prominent investors who have shorted Tesla shares include hedge-fund managers David Einhorn and Jim Chanos.<\/p>\n

Tesla is now the most valuable automaker on earth. Its stock was\u00a0up 7.3 percent Monday morning, trading at $1,296.76. The electric automaker is up more than 460 percent from the same point last year.<\/p>\n\n

\u201cTesla will make fabulous short shorts in radiant red satin with gold trim,\u201d Musk tweeted.<\/p>\n

The shorts were on sale for \u201cOnly $69.420!\u201d Musk tweeted on Sunday, an apparent reference to his famous tweet in 2017 that he planned to take take Tesla private at $420 a share \u2014 a pot joke he said was for his girlfriend. The misleading tweet landed Musk in hot water with the Securities and Exchange Commission, forcing him to pay hefty fees and surrender his role as chairman.<\/p>\n

Telsa said it delivered 90,650 vehicles in the quarter, down just 4.9 percent from the year-earlier period, despite factory shutdowns due to the coronavirus. Analysts had been expecting the car company to delivery just 72,000 cars due to the closure of its Fremont, Calif., factory, which resulted in Musk publicly sparring with California officials.<\/p>\n

Adv<\/em>.<\/strong><\/p>\r\n\r\n