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Elon Musk was asked if short sellers were an issue for Tesla during funding secured tweet trial

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Elon Musk was asked whether short sellers were an issue for Tesla as a public company when he took the stand during his trial centered on his “funding secured” tweet from 2018. On August 7th, 2018, he tweeted that he was considering taking Tesla private at $420. “Funding secured,” he said.  Tesla investors are suing the CEO in a class-action lawsuit, claiming that he manipulated Tesla’s share price when he made that tweet.

When the CEO took the stand on Friday, attorney Nicholas Porritt asked whether or not short sellers were an issue for Tesla as a public company, Business Insider reported. Jokingly, Elon Musk replied, “I think most people don’t know what short seller means. It’s sort of – is it sort of a seller of small stature? Is it like medium and tall sellers.”

During his testimony, Elon Musk called short selling “a means for, in my opinion, bad people on Wall Street to steal money from small investors.”

Tesla was the most shorted stock on Wall Street up until 2022 when it was finally overtaken by Apple as the company with the shortest interest on the stock market. Several short sellers in the industry have been highly skeptical of Tesla and its products.

The war short sellers have waged upon Elon Musk, and Tesla hasn’t gone unnoticed over the past couple of years. Elon Musk even launched the limited edition Tesla short shorts as a playful jab at the history between Tesla and its critics that have long betted on the company’s failure. Those bets against Tesla have proven to be bad ones, as short sellers have lost billions.

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Jim Chanos, David Einhorn, and many others have lost billions due to their short interest in the stock. In July 2022, a report by S3 Partners found that Tesla’s short sellers were down $1.55 within the past 30 days. ARK Invest’s Cathie Wood recently estimated that Tesla shares could increase fivefold during the next five years just from its EV business alone. Wall Street commentator, Jim Cramer, likened Tesla to “a sleeping giant.”

Tesla continues to meet all of its goals and produce vehicles to meet the growing demand. Tesla’s earnings call for Q4 2022 is a mere five days from now, and the company announced earlier this month that it produced a total of 1,369,611 vehicles in 2022.

Disclosure: Johnna is a $TSLA shareholder and believes in Tesla’s mission.  

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Your feedback is welcome. If you have any comments or concerns or see a typo, you can email me at johnna@teslarati.com. You can also reach me on Twitter at @JohnnaCrider1.

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SpaceX aces Starship test flight 10 with successful payload deployment

The mission began at 6:30 p.m. local time in Starbase, Texas, when the launch of Starship initiated. After about eight minutes, stage separation was completed, and the Super Heavy Booster headed back down to Earth for a planned splashdown in the Indian Ocean:

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Credit: SpaceX

SpaceX aced its tenth Starship test flight on Tuesday night after multiple delays pushed the mission back to this evening. Originally scheduled for Sunday night, SpaceX had two delays push the flight back to Tuesday, which ultimately provided ideal conditions for a launch attempt.

The tenth test flight of Starship had several objectives, including a successful splashdown of the booster in the Gulf of America, the deployment of eight Starlink simulation modules from the PEZ dispenser, and a splashdown of the ship in the Indian Ocean.

SpaceX Starship Flight 10: What to expect

SpaceX successfully achieved all three of these objectives, making it one of the most successful test flights in the Starship program. There was no attempt to catch the booster this evening, as the company had been transparent about it ahead of the launch.

The mission began at 6:30 p.m. local time in Starbase, Texas, when the launch of Starship initiated. After about eight minutes, stage separation was completed, and the Super Heavy Booster headed back down to Earth for a planned splashdown in the Indian Ocean:

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Starship was then the main focus of the rest of the broadcast as it completed its ascent burn and coasted through space, providing viewers with spectacular views as the mission headed toward new territory, including the deployment of Starlink simulators. This would be the first time SpaceX would attempt a payload deployment.

The deployment works like a PEZ dispenser, as the simulators were stacked on top of one another and would exit through a small slit one at a time.

This occurred roughly 20 minutes into the mission:

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An hour and six minutes into the flight, Starship reached its final destination, which was the Indian Ocean. A successful splashdown would bring closure to Starship’s tenth test flight, marking the fifth time a test flight in the program’s history did not end with vehicle loss.

It was also the first of four test flights this year that will end with Starship being recovered.

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SpaceX is expected to launch Starship again in approximately eight weeks, pending the collection of data and other key metrics from this flight.

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WATCH: SpaceX attempts Starship’s tenth test flight after two delays

This evening, SpaceX has already stated that conditions appear to be approximately 45 percent favorable for launch. This is ten percent less than last night, when the mission was eventually scrapped around 7 p.m. local time.

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Credit: SpaceX

SpaceX is set to launch Starship tonight, provided the weather cooperates and everything with the ship goes smoothly.

This is SpaceX’s third attempt to launch Starship for its tenth test flight, with Sunday’s and Monday’s attempts both being scrapped due to a leak and unfavorable weather conditions on the respective days.

This evening, SpaceX has already stated that conditions appear to be approximately 45 percent favorable for launch. This is ten percent less than last night, when the mission was eventually scrapped around 7 p.m. local time.

SpaceX Starship Flight 10: What to expect

Propellant load of the upper stage and Super Heavy booster is already underway, and the launch is expected to occur at 6:30 p.m. in Starbase, Texas.

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You can watch the tenth test flight of Starship below via SpaceX:

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Tesla one-ups Waymo once again with latest Robotaxi expansion in Austin

Tesla’s new Robotaxi geofence measures roughly 171 square miles of Austin’s downtown and suburbs. This is more than double the size of Waymo’s geofence, which measures 90 square miles.

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Credit: @BLKMDL3 | X

Tesla’s expansion of the Robotaxi geofence on Tuesday morning was a one-up on Waymo once again, as the automaker’s service area growth helps eclipse its rival in an intense back-and-forth.

A lot of conversation has been made about Tesla’s rivalry with Waymo in terms of the capabilities of its driverless ride-sharing service in Austin, Texas.

The two companies have sparred with one another, answering each other’s expansion, and continuing to compete, all to the benefit of consumers in the region.

Tesla expanded the geofence of Robotaxi once again this morning, and it is another growth that catapults it past Waymo’s service area in Austin — this time by a considerable margin.

Tesla’s new Robotaxi geofence measures roughly 171 square miles of Austin’s downtown and suburbs. This is more than double the size of Waymo’s geofence, which measures 90 square miles.

On July 14, Tesla officially overtook Waymo in terms of service area in Austin. But just a few days later, Waymo had responded with a bold statement, expanding from 37 square miles to 90 square miles.

Sarfraz Maredia, Global Head of Autonomous Mobility & Delivery at Uber, said the move “unlock[ed] another key milestone in Austin as our operating territory with Waymo expands from 37 to 90 square miles, which means that even more riders can experience Waymo’s fully autonomous vehicles through the Uber app.”

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Tesla did not respond immediately, but it took its time with validation vehicle testing in the Austin suburbs, as we reported yesterday:

Tesla looks to expand Robotaxi geofence once again with testing in new area

Today’s expansion is perhaps the biggest step Tesla has taken in its efforts to continue to grow its Robotaxi platform. This is not only because the company has significantly expanded the size of the geofence, but also because it has ventured into suburban areas and even included Gigafactory Texas in its service area.

Waymo could come up with another timely response as it did when Tesla expanded in late July. We’ll wait to see what it comes up with, as this awesome competition between the two companies is accelerating innovation.

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