'Shortville heat wave': Is Elon Musk mocking Bill Gates and Tesla short sellers?
The richest man in the world, Elon Musk, is known for sharing encrypted messages with his more than 100 million Twitter Inc TWTR followers. A recent article may be a dig at investors betting against electric vehicle company Tesla Inc TSLA.
What happened: On Friday night, Elon Musk tweeted three simple words "Shortville Heat Wave". The tweet also featured a burning face emoji. While the tweet came as temperatures reached 101 degrees in Austin, Texas, home to a Tesla and Musk Gigafactory, it likely had nothing to do with the weather.
Instead, the tweet is likely referring to short sellers or those betting against Tesla stock.
Sawyer Merritt, who frequently publishes news about the electric vehicle industry, asked in response if "anyone checked in on how Bill Gates is doing?"
Bill Gates recently made a $500 million bet against Tesla stock.
Related Link: Leaked Cats Show Musk Confronted Bill Gates Over Tesla Short: Here's What They Got discussed
Why it matters: Musk's post comes as Tesla shares have seen positive momentum. Tesla shares are up 31% in the past month and more than 10% in the past five days.
On July 22, it was reported that Tesla short sellers had suffered a $1 billion hit and S3 Partners predicted that short pressure could occur for stocks from the electric vehicle company.
The positive gains for Tesla stock over the past month came as AXS Investments launched a single-stock inverse ETF that allows investors to bet against Tesla's performance.
The AXS TSLA Bear Daily TSLQ ETF launched two weeks ago and is down 23% since launch.
Musk isn't the only CEO to take on short sellers on Twitter. AMC Entertainment Holdings CEO Adam Aron has repeatedly posted about people betting against AMC and the movie theater industry using the #ChokeonThat hashtag. Aron also suggested that a short squeeze could occur using the phrase "wen pounce" in reference to AMC's upcoming earnings report.
TSLA Price Action: Tesla stock closed Friday at $891.45, up 6% on the day.
Photo: Created from images by Greg Rubenstein and TED Conference on Flickr
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
The richest man in the world, Elon Musk, is known for sharing encrypted messages with his more than 100 million Twitter Inc TWTR followers. A recent article may be a dig at investors betting against electric vehicle company Tesla Inc TSLA.
What happened: On Friday night, Elon Musk tweeted three simple words "Shortville Heat Wave". The tweet also featured a burning face emoji. While the tweet came as temperatures reached 101 degrees in Austin, Texas, home to a Tesla and Musk Gigafactory, it likely had nothing to do with the weather.
Instead, the tweet is likely referring to short sellers or those betting against Tesla stock.
Sawyer Merritt, who frequently publishes news about the electric vehicle industry, asked in response if "anyone checked in on how Bill Gates is doing?"
Bill Gates recently made a $500 million bet against Tesla stock.
Related Link: Leaked Cats Show Musk Confronted Bill Gates Over Tesla Short: Here's What They Got discussed
Why it matters: Musk's post comes as Tesla shares have seen positive momentum. Tesla shares are up 31% in the past month and more than 10% in the past five days.
On July 22, it was reported that Tesla short sellers had suffered a $1 billion hit and S3 Partners predicted that short pressure could occur for stocks from the electric vehicle company.
The positive gains for Tesla stock over the past month came as AXS Investments launched a single-stock inverse ETF that allows investors to bet against Tesla's performance.
The AXS TSLA Bear Daily TSLQ ETF launched two weeks ago and is down 23% since launch.
Musk isn't the only CEO to take on short sellers on Twitter. AMC Entertainment Holdings CEO Adam Aron has repeatedly posted about people betting against AMC and the movie theater industry using the #ChokeonThat hashtag. Aron also suggested that a short squeeze could occur using the phrase "wen pounce" in reference to AMC's upcoming earnings report.
TSLA Price Action: Tesla stock closed Friday at $891.45, up 6% on the day.
Photo: Created from images by Greg Rubenstein and TED Conference on Flickr
© 2022 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
What's Your Reaction?
