Elon Musk mocks SEC again amid surge in Tesla stock

Tesla's stock climbed to a record intraday high of $1,228 before closing at $1,208.66 per share

Tesla CEO Elon Musk took to Twitter to mock short sellers and the Securities and Exchange Commission in a series of tweets Thursday following a surge in the automaker's stock.

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"Tesla will make fabulous short shorts in radiant red satin with gold trim," the billionaire said. "Will send some to the Shortseller Enrichment Commission to comfort them through these difficult times"

In another tweet, Musk wrote, "SEC, three letter acronym, middle word is Elon's."

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The tweets immediately received pushback, with one user warning Musk that his latest comments toward the SEC are "dangerous," to which Musk responded, "But sooo satisfying."

The SEC sued Musk in September 2018 for securities fraud over tweets claiming he had funding to take Tesla private at $420 a share. As part of the settlement, Musk stepped down from his role as chairman of the company for three years and paid a $20 million fine.

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The SEC declined to comment on Musk's latest tweets.

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The jabs at the agency come as part of a victory lap by Musk after Tesla's second-quarter production and deliveries shattered Wall Street expectations despite a shutdown of its Fremont, California, plant due to the coronavirus pandemic.

The Palo Alto, California-based electric-vehicle manufacturer produced more than 82,000 vehicles and delivered more than 90,000 vehicles for the three-month period ending in June.

TickerSecurityLastChangeChange %
TSLATESLA INC.407.34+19.55+5.04%

Tesla stock climbed to a record intraday high of $1,228 earlier Thursday before closing at $1,208.66 per share by the end of the trading session, up more than 7 percent.

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