Elon Musk tweets video parody of Hitler ‘shorting Tesla stock’ | business news | Hindustan Times
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Elon Musk tweets video parody of Hitler ‘shorting Tesla stock’

Tesla last week reported better margins on the Model 3 in the second quarter, as well as a lower cash-burn rate.

business Updated: Aug 06, 2018 15:45 IST
Elon Musk,Tesla,Tesla stock
Tesla Motors CEO Elon Musk (AFP File Photo)

Elon Musk is struggling with his own pledge to get a better handle on his use of Twitter, posting a version of an Adolf Hitler clip that lampoons fund managers who are betting against his company.

The Tesla Inc. chief executive officer on Sunday tweeted an often-parodied clip from the film “Downfall.” In Musk’s version of the movie about Hitler’s last days, the dictator is a short seller haranguing his aides about losing money at every turn because Tesla’s shares are rising with the growing success of the mass-market Model 3 sedan.

Tesla last week reported better margins on the Model 3 in the second quarter, as well as a lower cash-burn rate. That and the promise the company would be able to turn a profit in the remaining quarters of the year sent the stock soaring. Musk also apologized for his disparaging comments to analysts on a previous earnings call, easing concerns among investors.

Musk is well known for his use of Twitter, both for amusing comments as well as outbursts that have weighed on the electric-car maker’s stock. In a recent interview, he pledged to try and limit how he engages with people criticizing him or his company on the social media network.

In Musk’s most recent post that’s attracted wider attention, Hitler learns that Model 3 production has increased and Tesla shares are gaining. He orders “Chanos, Einhorn, Spiegel” to stay and everybody else to leave the room, referring to vocal Tesla short-seller fund managers Jim Chanos and David Einhorn. He then rants about the money he’s losing on his Tesla short position.

His aides break the news to him that, contrary to short sellers’ assertions, Tesla’s cars aren’t fire prone, and Hitler laments that so-called Tesla fighters -- new models from the likes of Porsche and BMW AG -- “keep getting delayed.”

The YouTube video is a popular movie clip of Hitler yelling in his bunker that’s often parodied on the Internet with captions on different subjects. In the original movie, Hitler is seen discussing war tactics with his generals before realizing that the end is near.

Tesla fell 1.5 percent to $343 in trading before U.S. exchanges opened.

First Published: Aug 06, 2018 15:43 IST