Elon Musk now launches Tesla 'short shorts', website crashes after inside joke

Telsa founder and CEO Elon Musk on Sunday launched an exclusive line of 'short shorts' on automobile firm's website, three days after posting on Twitter that he might launch fabric. Musk's latest product went live on Sunday morning (local time) and soon crashed website.

READ: Elon Musk Trolls SEC And Short Sellers On Twitter After Tesla Stock Surges To New Highs

Tesla's short shorts sold out

Musk's shorts are available for $69.420 in five sizes with a reference to three Tesla cars - Model S3, X, Y printed at back. pricing could be a reference to price at which he had anunced he would be purchasing shares to take company private in 2018.

Musk anunced on July 3 that firm will be selling short shorts in 'red satin with a gold trim' and in yet ar dig towards  U.S. Securities and Exchange Commission (SEC), he said that he would be sending some of shorts to 'Shortseller Enrichment Commission' in order to "comfort m through se difficult times."

READ: German Man Accidentally Buys 28 Tesla Vehicles Worth 1.4 Million Euros

Musk has repeatedly joked about “short shorts” to short-sellers who have repeatedly borrowed stock since y believed it was overvalued and n sell it immediately. If price of stock falls, it can be sold to make a profit. However, if price rises, n it has to be bought back, consequently incurring a loss for firm. 

Tesla witnessed a surge in short selling of its stock over last few weeks with more than 15 million shares being sold short. However, stock price rose to $1,208/ share making it  world's most financially valuable automaker.

READ: Elon Musk Reveals Tesla Building RNA Micro-factories For Firm Developing COVID-19 Vaccine

SEC has previously taken Musk to court after he failed to clear a tweet about Tesla’s production. tweets had cost Musk and his company $20 million. It furr also led to implementation of a requirement that his social media use would be supervised by Tesla. 

Tesla had previously sold 'Flamethrowers' on behalf of 'Boring Company', raising $10 million after selling 20,000 units. firm does, however, continue to sell hats, joggers, hoodies, tee shirts, and a toy version of Model S, etc.

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