On Friday, Elon Musk said in a series of tweets that Microsoft co-founder, Bill GatesHe bet on Tesla’s stock decline, and has short bets that now need between $1.5-$2 billion to close.
Musk added that Bill Gates’ original bet once morest Tesla was $500 million, and it grew following “Tesla rose a lot,” according to Bloomberg, and Al Arabiya.net saw it.
This comes following Tesla shares rose by 7.33% on Friday to the level of $759.6.
It is noteworthy that short selling is a practice that investors resort to when they expect a decline in the price of a particular share, so they borrow and sell shares, then buy them back and return them to their owners, and take advantage of the difference in price between the selling price and the subsequent purchase price, the higher the selling price and the higher their expectations of the stock’s decline. And buying it once more at a lower price, they make a profit, but if the stock moves up and exceeds the basic selling price, these investors must put more money as insurance to cover paper losses between the market price of the stock and the price at which they sold it.
Since Gates still has a multi-billion dollar short position once morest Tesla while claiming to help with global warming, I guess I have some trust issues with him too
— Elon Musk (@elonmusk) May 28, 2022
Musk’s tweet comes as a response to the tweets following closing his Twitter poll, which asked followers regarding who they have less confidence: politicians or billionaires. More than 75% said they had less confidence in politicians.
