Elon Musk Fights The Short Sellers
According to reports, Tesla has attracted the highest number of short sellers in the history of the stock market. This is because investors believe Tesla will be unable to reach the targets Musk has set out.
This, however, is something Musk wants to change, saying: “... as the most shorted stock in the history of the stock market, being public means that there are large numbers of people who have the incentive to attack the company.”
Musk, who owns 20% of Tesla, later added: “Basically, I’m trying to accomplish an outcome where Tesla can operate at its best, free from as much distraction and short-term thinking as possible, and where there is as little change for all of our investors, including all of our employees, as possible.”
The 47-year-old finished the statement by revealing that going private would have to be finalised through a vote of Tesla’s shareholders.