Tesla website collapsed under pressure to buy shorts with the logo on them

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Tesla has released a limited edition of shorts with the company logo. The site of the corporation collapsed under the pressure of those wishing to buy new products.

Mask posted a link to a product card on Twitter. Atlas shorts are available only in one color – red, in sizes from XS to XL. The description of the product says that they are suitable for running and summer holidays by the pool, as well as for indoor rest all year round. Their price is $69,420. Which sex the shorts are designed for, the description does not specify, but the photo shows them on a female figure.

Less than an hour later, the comments to the post included a message from Mask that the site was inaccessible due to the large number of requests. By the time the news was published, the page with the product was opened, but the product was no longer available.

The release of the batch of shorts was a joke to investors shortsellers by Musk. They opened short positions in the shares of the company in the hope that the quotations would fall. Positions like them are called shorts on the stock slang, just like the shorts. These traders borrow shares from a broker, then sell them at the current price, planning to buy them back after they become cheaper, so they can both return the shares and profit from the price difference. Since the beginning of 2020, this strategy has not justified itself and the short sellers have suffered large losses.

The price of the shorts is also a hint. The latest figures are a hint at Musk’s attempt to buy out the company’s securities from shareholders in 2018 at a price of $240. This has caused dissatisfaction of the U.S. Securities and Exchange Commission, which saw the attempt of stock manipulation. As a result, Musk was forced to pay a fine and lost his position as chairman of Tesla.

Earlier in July, it became known that Musk’s fortune increased by $5.2 billion over the week and reached $46.3 billion.