Elon Musk. Twitter. Babylon Bee.

[Ken]

Elon is definitely making some people very rich this year. Unfortunately not the ones he wants. Betting against Tesla has made some folks very rich as the company has lost about 70% of its value so far in 2022. Tesla continues to slide today even as the rest of the market it rising. Personally I thought Tesla was egregiously overvalued and this is just bringing things back to reality. But Musk's obsession with Twitter seems to be the catalyst.

https://finance.yahoo.com/news/teslas-l ... 21261.html

Tesla stock fell another 8.8% on Thursday, bringing its year-to-date losses to 64%.

With this decline, more than $800 billion in market capitalization has been erased from the electric carmaker. The current 69.7% drawdown from its most recent high reached in late 2021 is the largest in Tesla's corporate history.

And this slide has been good news to short-sellers.

Data from S3 Partners published Thursday showed that through Wednesday's close, Tesla was the year's most profitable short — or stock traders were betting against — with mark-to-market profits totaling $15.03 billion so far this year. And these figures don't reflect Thursday's decline.

"In December, TSLA shorts are up $4.54 billion in month-to-date mark-to-market profits, up +33.2% on an average short interest of $13.67 billion," S3 Partners said in its report. "Since Elon Musk’s Twitter bid on 4/14/22, TSLA shorts are up $13.74 billion in mark-to-market profits, up 77.5% on an average short internet of $17.74 billion."

And the next most-profitable short this year isn't even close — short-sellers have made $6.2 billion betting against Amazon in 2022, a stock that was down 49.7% so far this year through Thursday's close.

The notion that Musk's involvement with Twitter is the predominant issue facing Tesla shares has become a widely held view in recent weeks. Consensus, even.

Wall Street analysts have said Musk "needs to pull it together," while slashing price targets and downgrading Tesla along the way. Some of Musk's most ardent defenders have openly begun calling for him to step away from Twitter.

And, to an extent, Musk himself seems to agree, hosting a poll on whether he should step down as Twitter's chief and saying he will resign the post once a replacement is found.

The green line is the value of Tesla. The yellow line is the value of the short-sale contracts betting against Tesla. Elon acquired Twitter in late October about the same exact time that those two lines crossed.

[temporal1]

i nominate Robert for Twitter CEO.

[Ken]

i nominate Robert for Twitter CEO.

He wants everyone to get along. That would NEVER work on Twitter.

[temporal1]

i nominate Robert for Twitter CEO.

He wants everyone to get along. That would NEVER work on Twitter.

i’d enjoy seeing how Robert+Elon got along. Robert is more longsuffering .. but .. i detect similar spirits.

[Robert]

[temporal1]

ELON MUSK ZONE / IT HAPPENED! Elon Musk JUST Announced 2024 Presidential Run / -10min

[ohio jones]

IT HAPPENED! Elon Musk JUST Announced 2024 Presidential Run

I haven't watched, but if this doesn't have Rick Astley in it somewhere I will be very surprised.

It's from 2 days ago, the subheadings are about Bitcoin, and the only thing in the news (even searching DDG) is his support for DeSantis reported a month ago and a few old articles analyzing his ineligibility.

[Ken]

Elon was born in South Africa. He is ineligible for the presidency but he could run for governor of Texas in 2026. Or perhaps California in 2024.

[temporal1]

IT HAPPENED! Elon Musk JUST Announced 2024 Presidential Run

I haven't watched, but if this doesn't have Rick Astley in it somewhere I will be very surprised.

It's from 2 days ago, the subheadings are about Bitcoin, and the only thing in the news (even searching DDG) is his support for DeSantis reported a month ago and a few old articles analyzing his ineligibility.

P.30:

Do you ever wonder whether Elon Musk wants to be the next billionaire president of the United States?

Both the richest man in the world and the most powerful? A tempting thought I suppose, but he's not eligible for the office.
Unless there's a birth certificate somewhere we don't know about.

[Robert]