Musk's Anger: "Short Selling Is a Scam"
Criticism of GameStop Stock Trading Halt
Appears to Share Experiences of Short Selling Losses
![[Image source=Reuters Yonhap News]](http://www.asiae.co.kr/news/img_view.htm?img=2021012905573851057_1611867457.jpg)
[Asia Economy New York=Correspondent Baek Jong-min] Elon Musk, CEO of Tesla, launched a series of criticisms against short selling and some securities firms' trading restrictions on GameStop stocks.
On the 28th (local time), Musk replied "absolutely" to a tweet by Representative Alexandria Ocasio-Cortez criticizing Robinhood, the stock trading app that halted GameStop stock trading.
He then began a full-scale criticism of short selling. Musk stated, "The short sellers are coming. They do not deserve respect. Shrink more."
Musk also emphasized, "You can't sell a house if you don't have one. You can't sell a car if you don't have one. But you can sell stocks even if you don't own them. Short selling is a scam."
Previously, Musk had retweeted the Reddit community 'WallStreetBets', where opinions on buying GameStop stocks were shared, writing 'gamestonk' to support individual investors.
Musk appears to be actively raising awareness about the side effects of short selling through the current GameStop issue, which he himself has experienced.
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Since Tesla's stock market listing, it has continuously faced attacks from short sellers. As Tesla's stock price surged by 700% last year, the losses incurred by short sellers were estimated to have reached $35 billion (38 trillion won) by November of last year.
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