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Should this SEC action seeking to remove Elon as CEO give me pause about my delivery?
- Thread starter TurnFast
- Start date
I'm not sure short selling actually counts as a valid position legal wise. Don't think anyone could care less about their well being.
But the shareholders buying at 370$ under the information that they would most likely be taken private and they could choose to sell at 420$ or keep it as private investor. Then experiencing the loss to 320$, well that sucks and they might have a case, but it all depends on proving that the information was actually fake.
But the shareholders buying at 370$ under the information that they would most likely be taken private and they could choose to sell at 420$ or keep it as private investor. Then experiencing the loss to 320$, well that sucks and they might have a case, but it all depends on proving that the information was actually fake.
FYI, Martha Stewart did legit insider trading and got a 5 year ban (and jail time). Elon sent out a tweet and gained nothing from it (as far as I know). Martha Stewart's offense was much worse so there is no way Elon's offense is worthy of a lifetime ban. Just because the SEC wants something to happen, doesn't mean that it actually is going to happen.
Garlan Garner
Banned
This whole thing is just horrible.
I don't know why we have such a "SUE" crazy society.
Everything is about money...….these days.
I don't know why we have such a "SUE" crazy society.
Everything is about money...….these days.
Has any other CEO through offical channels made a statement about going private and having funding secured or fraudulently done anything as devastating to the stock market? Shorts and longs lost billions over his lie.
FYI Marthra Stewart's insider trading allowed her to avoid a 45,000 dollar loss. Musks tweet cost shorts and longs billions
FYI Marthra Stewart's insider trading(not that it was even insider trading) allowed her to avoid a 45,000 dollar loss. Musks tweet cost shorts and longs billions
Exactly. Guys like Musk are dreamers and big picture kind of people. He is very smart and what he has accomplished with Tesla is amazing. But running a car company is not a big picture situation. The devil is in the details including false tweets that cost investors billions.Of course he is mad at shorts but the way he lashed out with an outrageous fake news tweet is not only stupid but illegal. Now he has to suffer the consequences. Tesla will continue without his leadership as CEO but that doesn't affect the real problem which is the company is bleeding cash and will be unable to borrow more to cover payments on existing debt. The well is dry and they have some some huge financial hurdles to overcome. I still stand by my prediction of bankruptcy. (which does not mean the end of Tesla as a brand)
First of all, I would absolutely take delivery on the car. I just got my P3+ last night, and it is a phenomenal car. I took a friend of mine who is a car lover and ev skeptic on a drive, and he was amazed with what Tesla has done with the m3. The car will sell itself, with or without Elon in charge of Tesla.
Second, I am a trader professionally, so i understand intimately how the markets work and the role of short sellers. There are 34mm short shares right now. That means on the overnight crash after the SEC announcement, they made over 1 billion dollars. As an industry professional myself, I have every confidence that these we’ll connected hedge funds have put substantial pressure on the SEC to pursue removal of Musk. The best thing you can do is to call your representatives (they actually do listen when several people call, and having more influence on the SEC than they’d care to admit) and express your frustration over a politically and economically motivated attack on an American company.
Finally, it is important to remember the Tesla is really a battery company, not a car company. And demand for batteries, for grid storage, home storage, electric vehicles produced by other manufacturers, etc. it’s only going to grow as we move away from fossil fuels and towards clean energy. I have every confidence that Tesla will survive, with or without Musk, public or private, domestic or foreign. And even if, worst case scenario, they didn’t, their assets would be bought by other companies, who would continue supporting and making the cars. So there is absolutely no chance of owning a rechargeable paperweight. The only reason I see not to move forward with the purchase, is if you’re buying it solely because of your confidence in Elon, not because you like the car or company—in which case, you probably shouldn’t have ordered it in the first place.
Second, I am a trader professionally, so i understand intimately how the markets work and the role of short sellers. There are 34mm short shares right now. That means on the overnight crash after the SEC announcement, they made over 1 billion dollars. As an industry professional myself, I have every confidence that these we’ll connected hedge funds have put substantial pressure on the SEC to pursue removal of Musk. The best thing you can do is to call your representatives (they actually do listen when several people call, and having more influence on the SEC than they’d care to admit) and express your frustration over a politically and economically motivated attack on an American company.
Finally, it is important to remember the Tesla is really a battery company, not a car company. And demand for batteries, for grid storage, home storage, electric vehicles produced by other manufacturers, etc. it’s only going to grow as we move away from fossil fuels and towards clean energy. I have every confidence that Tesla will survive, with or without Musk, public or private, domestic or foreign. And even if, worst case scenario, they didn’t, their assets would be bought by other companies, who would continue supporting and making the cars. So there is absolutely no chance of owning a rechargeable paperweight. The only reason I see not to move forward with the purchase, is if you’re buying it solely because of your confidence in Elon, not because you like the car or company—in which case, you probably shouldn’t have ordered it in the first place.
Brando
Active Member
I'm long on TSLA and I'm jumping in to buy more shares at a discount right now because $260 is too attractive. However as an owner of 1 Model X and soon 2, the prospect of a possible bankruptcy is real since it would be more difficult for Tesla to secure funding going forward. If it goes bankrupt, the company itself would survive restructuring, but they don't have to continue with FSD development for current hardware. Things like free supercharging (which have been factored into the price of cars) could go away too. Does this affect my decision to take delivery of my car in 2 months? No, but I do share op's concerns about unsupported and unloved paperweights.
There's no way TSLA would go to $150 or less. Q3 financials will show crazy deliveries and profitability. Musk's antics drive down TSLA but it always bounces back after awhile. I doubt that Musk could do anything stupider than what happened, so there's less chances of tsla going down further.
I actually wonder if bankruptcy wouldn't be the best option. Do a quick Chapter 11, lose your debt, and carry on. Only issue with that for me is I've a good deal more sympathy for the average Tesla investor than other investors, but.... as a company decision... it's almost a no brainer. Infrastructure is there, imagine Tesla with $10B less debt...
I agree with tomc603 above.
I'm no Attorney, but I have my doubts that a Tweet is a legally binding "instrument."
Was the tweet signed (authorized), or notarized? Is there proof that EM even authored the comment?
What was the intent?
Absolutely anything can .... and is ..... tweeted daily: Inflammatory, sometimes dishonest, unfounded, unsustainable, accusatory, demeaning, (and on and on) opinions.
Remember .... suits are easy to initiate. Convictions are much more difficult to achieve.
I'm no Attorney, but I have my doubts that a Tweet is a legally binding "instrument."
Was the tweet signed (authorized), or notarized? Is there proof that EM even authored the comment?
What was the intent?
Absolutely anything can .... and is ..... tweeted daily: Inflammatory, sometimes dishonest, unfounded, unsustainable, accusatory, demeaning, (and on and on) opinions.
Remember .... suits are easy to initiate. Convictions are much more difficult to achieve.
nwdiver
Well-Known Member
Thread sure aged well for the OP.
While everyone was being hysterical, canceling deliveries and dumping stock I dove right in buying calls from those foolish enough to sell them.
Be greedy when others are fearful.
While everyone was being hysterical, canceling deliveries and dumping stock I dove right in buying calls from those foolish enough to sell them.
Be greedy when others are fearful.
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