Don’t Tell Shareholders That Maybe It’s “Not So Crazy” To Short Your Own Company’s Stock . . .
Amazingly, that’s exactly what Elon Musk, the usually brilliant founder of PayPal, Tesla and SpaceX, said on the air last week to a Fox Business reporter about Tesla’s stock price sending the stock on a momentary but fairly precipitous downward trajectory. He then only made matters worse during his attempt to cover by explaining that shorting Tesla still “probably isn’t a good idea” – not exactly the most reassuring words to hear from a CEO.
Obviously, I’d still love nothing more than to own a Tesla, but Elon has absolutely earned special notice for this one.