Elon Musk is taking a victory lap on Twitter today and sinking into Tesla in short, as the automaker’s stock price (TSLA) is reaching new highs.
The whole situation is a bit ironic when you consider that two months ago and $ 100 billion in valuation, he said the stock is too high.
Today Tesla confirmed its second-quarter delivery and production numbers, which were in line with what we reported last week, but also above Wall Street expectations.
Exceeding Wall Street expectations pushed shares up 9% this morning and closed 7.95%.
It has sent Tesla’s valuation to more than $ 224 billion, a new all-time record.
Musk took the opportunity to take a victory lap and provoke Tesla shorts, people who short-sell Tesla shares, which amounts to gambling against Tesla shares.
Tesla will make fabulous radiant red satin shorts with gold trim
– Elon Musk (@elonmusk) July 2, 2020
In 2018, Musk sent a box of shorts to David Einhorn, a famous hedge fund manager who has a great short position on Tesla.
The CEO even attacked the SEC:
He will send some to the Sellers Enrichment Commission to comfort them in these difficult times.
– Elon Musk (@elonmusk) July 2, 2020
After Musk lobbied for Tesla to become private again in 2018, the SEC sued the CEO for exaggerating the fact that Tesla had secured funds to become private, and Musk struck a deal with the SEC, which means the Securities and Exchange Commission and Values and not ‘Seller Enrichment Commission’. .
His new comments today about the SEC got pretty rude:
SEC, acronym for three letters, the middle word is Elon
– Elon Musk (@elonmusk) July 2, 2020
Not bad
– Elon Musk (@elonmusk) July 2, 2020
The CEO also thanked Tesla owners and investors for the strong quarterly delivery and production results:
Thanks to Tesla owners and investors! I love you!! We will work very hard to earn your trust and support. https://t.co/6mgcmlLTsA
– Elon Musk (@elonmusk) July 2, 2020
He shared the Tesla tweet announcing second-quarter delivery and production results.
The taking of Electrek
I get it. The shorts have been attacking Elon for years, and it probably feels good to go back to them on a day like today.
However, it strikes me as odd in the context that he also cut billions in Tesla’s value by saying the stock was “too high” just two months ago.
At the time, Tesla’s shares were trading at $ 700 a share.
Now, two months later, he claps his hands flattening the shorts with Tesla trading at $ 1,200, but isn’t the stock “too high” anymore?
What happened in the last two months that allowed Tesla to be worth $ 100 billion more than when it was “too high”?
It’s weird because up to a point, Elon basically agreed with the shorts two months ago.
I’m a long and happy TSLA investor right now, but I’d like more consistency from Elon on that front. It’s weird to scoff at the short right now when you agreed with them that the TSLA was too high $ 500 a share ago.
What you think? Let us know in the comment section below.
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