Elon Musk seems to keep his promises as he just released a pair of “short shorts” to celebrate his latest success and to poke fun at investors who didn’t bet on Tesla. The product dropped on Sunday along with a range of branded apparel on Tesla’s online store, all offered at discounted prices.
The limited edition Tesla shorts are priced at “just $69.42” according to Elon Musk’s tweet. This number references the $420 per share price Musk considered taking Tesla private at back in 2018. The US stock exchange later sued, causing major trouble for Musk and Tesla.
“Celebrate summer with Tesla short shorts. Run like the wind or lounge like Liberace (the famous pianist) in our satin-trimmed, rose gold design. Chill by the pool or indoors year-round with our limited edition Tesla shorts featuring our iconic Tesla logo on the front and ‘S3 S3YY’ on the back. S3XY is named after Tesla’s vehicles, starting with Model S, ‘S’ for sedan, Model X, ‘X’ for Falcon Wing doors, and Models 3 and Y.”
Right after Musk’s initial tweet about the new shorts, Tesla’s online store briefly couldn’t handle the surge of orders for the product.
Musk seems to be teasing Tesla’s short sellers with the name “short short” for the shorts.
This year alone, Tesla’s stock has surged 189%, making it the world’s largest automaker by market value, surpassing Toyota. Tesla’s market cap also overtook Coca-Cola, Disney, Costco, and ExxonMobil.
This milestone as the most valuable carmaker comes just as Tesla marks 10 years since its IPO. At the IPO, Tesla’s stock was priced at $17 per share, higher than the expected $14 to $16 range.
Since going public, Tesla has never posted a full profitable year. So far, the company has reported profits in only seven quarters, starting with Q1 2013. Currently, Tesla is on a streak of three consecutive profitable quarters.
The strong stock performance also helped Elon Musk hit his performance targets, earning him a massive $750 million bonus.
