A few days back the hashtag #RIPELON started trending on social media following news that Elon Musk had died in a major explosion that took place in a Tesla factory. A few also started sharing images and screenshots of a news report reading: 'Elon Musk Declared Dead After Tesal Factory Explosion.'
While tributes started pouring in with claiming that he died in a car battery explosion, others suggested the impact his death could have on the stock market. However, putting an end to all the rumors, Musk appeared a day later to prove that he is alive and kicking. Interestingly, the rumors around Musk's death started doing the rounds a few days after Tesla's valuation fell over $100 billion. And now it is being believed that it could well be the work of Tesla short sellers.
Behind the Death Hoax
Last Friday, many started sharing news clips of Musk's death including one report reading: "Elon Musk is dead â what this means for the stock market, and why this is good for the average American." Although some of the screenshots of the articles appeared to be not genuine, the news left social media users confused, with many trying to verify the truth behind the reports.
So much so that one particularly troll decided to draft an entire statement allegedly sent out to investors by Tesla. "We are conducting an internal investigation in order to find who spoke to the media on this matter," the fake statement read. "We absolutely must find a replacement for Mr. Musk before announcing his death publicly."
Interestingly, the statement was "signed" by "the Tesla PR Team." But for the uninitiated, Tesla dissolved its entire PR department last year amid the pandemic. This once again proves that the entire episode of spreading Musk's was done by machinery that's against Tesla and its founder.
What's the Vested Reason?
Musk's death hoax started doing the rounds on social media, just a day after billionaire investor Ron Baron sold $1.8 million worth of Tesla shares, causing the company's share prices to dip. The rumors started doing the rounds after Tesla's cap fell by more than $100 billion in just a few days, making many speculate if the automaker will still be worth a trillion dollars by the end of the year. Moreover,
Although neither analysts nor Reddit's Tesla community were too shaken up by the rumors, several social media users started believing in the fake news. However, doubts remain who spread the rumors, with many now believing that it could be the short sellers.
Tesla's stock price plummeted last week, which led many to bet against the company to make some fast cash and profit. It is possible these short sellers took this opportunity to spread the rumors on the social media about Musk's death, which definitely aren't convincing.