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Elon Musk decided to dig at TSLA short sellers who didn’t believe in the stock by offering Tesla short shorts that are available at the Tesla shop at $69.420. Notably, Musk is a fanatic of these digits as previously on his Twitter timeline he posted that he was born 69 days after 4/20.
Amidst the coronavirus lockdowns and social distance rule, Elon Musk, Tesla CEO, has shocked the market by introducing a new product away from his usual line. With a series of successes in his companies especially the shares that are scaling higher by the day, Tesla shop will now be selling a limited edition of short shorts at $69.420.
The short shorts from Elon Musk come in different sizes ranging from extra small to extra-large, hence capable of accommodating anyone. According to the details provided by the official Tesla website, once purchased, the buyer will have to wait for 2-4 weeks for the company to ship the product.
The company wrote in the product description:
“Celebrate summer with Tesla Short Shorts. Run like the wind or entertain like Liberace with our red satin and gold trim design. Relax poolside or lounge indoors year-round with our limited edition Tesla Shorts, featuring our signature Tesla logo in front with ‘S3XY’ across the back. Enjoy exceptional comfort from the closing bell”.
In addition, Tesla has in-store men’s and women’s corporate jackets, softshell jackets, full-zip hoodie, pullover hoodie, and sweatshirts as well as men’s, women’s and kid’s tees and men’s long sleeve wordmark tee. The diversification of products shields the company from harsh economic times as not all products get to be severely hit by the market slowdown.
Elon Musk and Short Shorts Pun
The significance of the numbers used is a puzzle to many, however, with the assumption that 420 is related to weed and Musk once had a puff of the roll in an interview with Joe Rogan, we can only speculate the intended meaning. On the other hand, there are guesses that it’s a reference to the $420 per share price at which he considered taking the company private back in 2018, which was however deterred through court order filed by the Securities and Exchange Commission (SEC).
‘Short Shorts’ seems to be a teaser mostly to investors who did not have faith in Tesla shares years ago but are now rushing to get back in long positions presumably after the company has gained traction in different markets. For long, Tesla shares have been seen to be fueled by mare speculation and hype despite shortcomings in delivering products as promised.
However, it is no lie that the company is taking the markets by storm especially the huge Asian, North American markets. It’s a significant plus for Tesla shareholders who will continue seeing their portfolios grow immensely in the coming months as the bull rally gets ready to move on.