The world’s richest man has been against short sellers for some time and continued to share his thoughts on Thursday.
What Happened: Tesla Inc (NASDAQ: TSLA) CEO Elon Musk has been sharing thoughts on the recent market volatility led by GameStop (NASDAQ: GME). Earlier this week, Musk tweeted “Gamestonk!!” and shared the link to the WallStreetBets subreddit.
On Thursday, Musk agreed with a user who said shorting should be made illegal.
u can’t sell houses u don’t own
u can’t sell cars u don’t own
u *can* sell stock u don’t own!?
this is bs – shorting is a scam
legal only for vestigial reasons
— Elon Musk (@elonmusk) January 28, 2021
“Here come the shorty apologists. Give them no respect. Get Short,” Musk tweeted later Thursday night.
Musk also agreed with a tweet from U.S. Rep. Alexandria Ocasio-Cortez calling for more information on Robinhood blocking retail investors from purchasing certain stocks Thursday as hedge funds are freely able to trade the stock as they fit.
“Absolutely,” Musk said.
Related Link: Tesla Website Crashes As Musk Puts Short Shorts On Sale
Why It’s Important: Musk has called out short sellers that have taken on Tesla over the years. It shouldn’t come as a major surprise he's staying vocal in the argument against short selling.
At $181 billion, Musk is the richest person in the world and has over 43 million followers on Twitter.
The posts from Musk come after Tesla reported record fourth quarter and full-year revenue on Wednesday night.
TSLA Price Action: Tesla shares were down 3% to $835.42 on Thursday.
Photo courtesy: Steve Jurvetson via Flickr
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