Elon Musk: Short-Selling Stocks Should Be Illegal

Breitbart | 10/4/2018 | Staff
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As Tesla CEO Elon Musk’s settlement agreement with Securities and Exchange Commission (SEC) awaits finalization, the erratic billionaire claimed Thursday that stock short-sellers are “value destroyers” and called for the practice to be outlawed.

Responding to one Twitter user’s criticism about short selling, Musk wrote: “Short-sellers are value destroyers. Should definitely be illegal.”

Short-sellers - Value - Destroyers

Exactly. Short-sellers are value destroyers. Should definitely be illegal.

Financial analyst Mel Farber called Musk’s comments on short selling “totally backwards,” noting multiple cases of frauds were previously exposed due to the practice. “[N]ot all shorts are bad, not all longs are good…,” Farber tweeted.

Farber - Assertion - Musk - Short-selling - Impact

Unmoved by Farber’s assertion, Musk argued short-selling has a net-negative impact on the U.S. economy. “[I]t stops private companies from going public, preventing access by retirement funds & small investors, thus increasing wealth divide,” he added.

Musk’s criticisms of short-selling come after the Tesla CEO mocked the SEC in a Thursday tweet, referring to the financial watchdog as the “Shortseller Enrichment Commission.”

Shortseller - Enrichment - Commission - Work - Name

Just want to that the Shortseller Enrichment Commission is doing incredible work. And the name change is so on point!

In a quarterly letter to investors, Greenlight Capital CEO David...
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