Tesla CEO Elon Musk has unveiled a long-awaited pair of red satin “short shorts” among a whole range of branded apparel up for sale on the e-car maker’s online store, thereby chalking up a small win over stubborn investors who had earlier questioned his position at the helm of the company.
The limited edition garment carries a price tag of $69.420, Musk tweeted, apparently referencing the $420-per-share price that he had offered shareholders in 2018 to take the company private. Musk’s intention, which he outlined at the time in a number of tweets, spawned a Securities and Exchange Commission lawsuit. Musk has since promised to offer "short shorts" to short sellers who were initially against the Tesla venture, such as hedge fund manager David Einhorn.
However, now, it seems to have already gone down in history, taking into account Tesla’s success, with the company’s shares surging 189% this year.
Netizens seemed enthusiastic about Musk’s apparel offer, with many picking up on the fact that the shorts are already completely sold out. And indeed, a few minutes after he tweeted it out, their entire line, in every size, was not available for purchasing. Musk again took to Twitter, saying ... "Dang, we broke the website.”
“Anybody that buys a pair of those shorts for $69 needs their head checked bigtime!!!” One exclaimed, with another posting mockingly:
“The same who have said the same about buying Tesla stocks 5 years ago; look at the resell prices in a few weeks.”
“For 69.420 i want Elon’s autograph signed with ink made from short sellers' tears,” another chimed in.
Many more opted for gag gifs and memes to illustrate Elon Musk’s stinging move:
“Elon we need to see a pic of you in it holding a flamethrower, it'd be really funny. Pls do it for the memes man,” another called, while someone else suggested the entrepreneur should send a pair directly to the SEC.
“Official shareholders attire,” another quipped.
The market cap of Elon Musk's electric car business has not only surpassed that of such giants as Coca-Cola, Disney, Cisco, Merck and Exxon Mobil, it is even worth more than Japanese carmaker Toyota, making Tesla the most valuable auto company on the planet.