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TSLAQ

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TSLAQ
$TSLAQ
NicknameTESLAQ
Named afterTesla Ticker Symbol + "Q" which is the NASDAQ notation for bankruptcy
FormationOct. 7, 2015; 8 years ago (Oct. 7, 2015)
TypeAnti-Tesla, Networked_advocacy, fraud_deterrence, Pro-Shorting
OriginsTwitter
Region
International
Key people
Lawrence Fossi, @TESLAcharts, @Paul91701736, Martin Tripp
Websitehttps://www.tslaq.org

TSLAQ is a loosely-collected group of largely anonymous[1] individuals critical of Elon Musk and aspects of Tesla, Inc. who primarily organize on Twitter [2] in order to share news, openly discuss matters concerning the company and its stock, and coordinate efforts. Some members of the group use a shared Twitter block list[3].The group has been the subject of ridicule by clean energy information websites [4], and Tesla officials such as CEO Elon Musk have actively engaged prominent members.[5] In the latest in a series of communications between the two, sarcastic open-letters were exchanged between Musk and CEO of Greenlight Capital David Einhorn (a noted Tesla bear whose company shorts $TSLA) in early November 2019, with Einhorn directly referencing a website from the TSLAQ community.[6]

Crowdfunding

Using GoFundMe, TSLAQ members led by former Seeking Alpha writer and Tesla short seller Lawrence Fossi ran a campaign for and contributed to the defense fund of fellow member, Randeep Hothi, who was initially sued by Tesla, accruing in excess of one-hundred thousand USD. Mr. Hothi allegedly chased a car full of Tesla employees and attempted to cause an accident by driving erratically to confuse the car's Autopilot system, among other things. The request for a temporary restraining order against Hothi was eventually dropped by Tesla.[7]

Activities of Group

The group was (largely) formed by investors & anonymous contributors which share an aversion to Tesla; some members also short Tesla stock as they believe it will lower in value in the future. Tesla was the most shorted stock in 2019 with over $10.5 billion in shorted share value at its peak[8], although as of November 2019 that value has fallen to $8.3 billion[9]. As per Business Insider,[10] members:

  • “Exchange research, news articles, and sometimes outlandish conspiracy theories about the company."[10]
  • “[Are] betting on the company’s death and have found much success in irritating the billionaire executive.”[10]

And as per the LA Times[11] members believe Tesla is a fraudulent company which stock will "crash". Their self-reported main goal is to "change the mind of Tesla stock bulls and the media." They make claims against Elon Musk and Tesla such as:

  • Tesla has reached a cliff in demand sales[11]
  • Tesla is distorting its sales numbers of cars[11]
  • Elon Musk knowingly orchestrated fraud[12]

References

  1. ^ Kolodny, Lora (February 1, 2019). "Anonymous Tesla short sellers who fly over its parking lots taking pictures of cars have a new web site". CNBC. Retrieved November 7, 2019.
  2. ^ Mitchell, Russ (April 8, 2019). "Must Reads: The crowd-sourced, social media swarm that is betting Tesla will crash and burn". Los Angeles Times. Retrieved November 7, 2019.{{cite web}}: CS1 maint: url-status (link)
  3. ^ "Block Together Block List". Block Together. December 6, 2019. Retrieved December 7, 2019.{{cite web}}: CS1 maint: url-status (link)
  4. ^ "Confessions of a Twitter TSLAQ Troll". CleanTechnica. Retrieved November 7, 2019.{{cite web}}: CS1 maint: url-status (link)
  5. ^ Musk, Elon (June 17, 2018). "How big is your short position? Just curious". twitter.com/elonmusk. Retrieved September 7, 2019.
  6. ^ Palazzo, Anthony, Hull, Dana (November 11, 2019). "Short seller Einhorn accept's Musk's offer to tour Tesla facilities". Bloomberg. Retrieved December 4, 2019.{{cite web}}: CS1 maint: multiple names: authors list (link) CS1 maint: url-status (link)
  7. ^ O'Kane, Sean. "Tesla drops lawsuit against critic after judge asks for evidence". The Verge. Retrieved November 29, 2019.{{cite web}}: CS1 maint: url-status (link)
  8. ^ D'Souza, Deborah (July 26, 2019). "Tesla Short Sellers net $1.5 Billion in Profits after Q2 Earnings Miss". Investopedia. Retrieved December 9, 2019.{{cite web}}: CS1 maint: url-status (link)
  9. ^ Dugan, Kevin (October 24, 2019). "Short Sellers Slammed as Tesla Shares Surge the Most in 6 Years". New York Post. Retrieved December 9, 2019.{{cite web}}: CS1 maint: url-status (link)
  10. ^ a b c Ungarino, Rebecca (April 17, 2019). "Inside Tesla Twitter". Market Insider. Retrieved December 9, 2019.{{cite web}}: CS1 maint: url-status (link)
  11. ^ a b c Mitchell, Russ (April 8, 2019). "Social media swarm that is betting Tesla will crash and burn". LA Times. Retrieved December 9, 2019.{{cite web}}: CS1 maint: url-status (link)
  12. ^ Durden, Tyler (November 11, 2019). "David Einhorn Accuses Musk of Significant Fraud". ZeroHedge. Retrieved December 9, 2019.{{cite web}}: CS1 maint: url-status (link)
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