Tesla was the target of an unethical and illegal practice called “short and distort” says Elon Musk
The CEO, & Product Architect of Tesla, Inc, Elon Musk gave a Ted talk in Vancouver today and the entrepreneur opened up, on how the Tesla stock was targeted by short sellers. Musk mentioned the term “short and distort”, which is nothing but a form of market manipulation which involves shorting a stock and then spreading negative news in order to drive the price of the stock down.
Elon Musk mentioned that Tesla was the most shorted stock in the history of the stock market. Short Selling is not an illegal practice, but naked short selling is and nothing has been done to stop naked short selling.