Elon Musk requires no introduction and said today in a tweet that he thinks that shorting of stock should be considered as a scam. He also tweeted that we shouldn’t give any respect to this method and is very much angry over it. For those who don’t know what is shorting of stock means we are here to help you, Shorting, or short-selling, is when an investor borrows shares and immediately sells them, hoping he or she can scoop them up later at a lower price, return them to the lender and pocket the difference. But shorting is much riskier than buying stocks, or what’s known as taking a long position.
Elon Musk said in one of his tweets “u can’t sell houses u don’t own u can’t sell cars u don’t own but u *can* sell stock u don’t own!? this is bs – shorting is a scam legal only for vestigial reasons”
u can’t sell houses u don’t own
u can’t sell cars u don’t own
but
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 Shorty”
Here come the shorty apologists
Give them no respect
Get Shorty— Elon Musk (@elonmusk) January 28, 2021
