Elon Musk forced to step down as chairman of Tesla, remains CEO

submitted by Mnemonic from theverge.com

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[–]Mnemonic[S] 3 insightful - 1 fun3 insightful - 0 fun4 insightful - 1 fun -  (1 child)

Well according to some it was a strategy to get rid of the shortsellers trying to ruin the company for profit. If that's the case and if it worked, 40 million to save Tesla is a bargain.

[–][deleted] 2 insightful - 1 fun2 insightful - 0 fun3 insightful - 1 fun -  (0 children)

There's always short sellers though, and likely they'll still be there until Tesla supply can meet demand.

If anything, getting removed as chairman would make the short sellers happy go away, but he could have just stepped down and saved the $.