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Tesla going Private @ $420?

Discussion in 'Tesla, Inc.' started by TexasTeslaRacing, Aug 7, 2018.

  1. TexasTeslaRacing

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    #1 TexasTeslaRacing, Aug 7, 2018
    Last edited by a moderator: Aug 7, 2018
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  2. Barklikeadog

    Barklikeadog Active Member

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    420? I thought it was 35k! :cool:
     
  3. a.void

    a.void Member

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    Where did the $420 number come from and how does he expect to buy it out @ $420 when the company needs capital?

    I hope this isn't a "4:20" joke
     
  4. boaterva

    boaterva Supporting Member

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  5. CUBldr97

    CUBldr97 Member

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    maybe he was smoking... 4-20 Weed day?
     
  6. a.void

    a.void Member

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    I saw the Saudi news today when it first popped 6-7%, but I missed that the funding was secured. Maybe the Chinese?
     
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  7. CUBldr97

    CUBldr97 Member

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    Stock was just frozen at $367.25!
     
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  8. diplomat33

    diplomat33 Member

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    Yep, trading of TSLA stock has been temporarily suspended.
     
  9. dgpcolorado

    dgpcolorado high altitude member

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    #9 dgpcolorado, Aug 7, 2018
    Last edited: Aug 7, 2018
    Isn't a tweet like that from a CEO seriously illegal?
     
  10. diplomat33

    diplomat33 Member

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    It depends. If Musk's tweet was serious and he is really going through with it, it is legal. But if Musk's tweet was a joke, taunt or any type of psychological game then it is definitely illegal. CEOs are not allowed to just say stuff to manipulate their stock price.
     
  11. sreams

    sreams Member

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    Wish the same was true for short sellers and their lackeys. Well... it is, but it happens anyway.
     
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  12. dgpcolorado

    dgpcolorado high altitude member

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    Some of the shorts on that twitter thread were peeved. One suggested that Musk is trying to cover up a sales or earnings miss. I can see how this buyout, if it were to happen, would be really bad news for the shorts. However, I am not sympathetic to their plight, to put it mildly... :D
     
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  13. diplomat33

    diplomat33 Member

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    Well, when you gamble like the shorts did, sometimes you lose.
     
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  14. diplomat33

    diplomat33 Member

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    It's happening folks. Here is Elon Musk's official letter to Tesla employees about his decision to go private and what it will entail. Shareholders will still need to vote on the measure:
    Taking Tesla Private
     
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  15. SMAlset

    SMAlset Active Member

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    #15 SMAlset, Aug 7, 2018
    Last edited: Aug 7, 2018
    Wow. Just saw the Musk email post. I came here to post before that to say I'm sure Elon was serious about taking Tesla private again. I think he believes in the company, his employees and the long term goals of the company; plus he's sick of the mentality of the short sellers, Wall Street and how the press continues to find any weakness, real or perceived, and make that the lead/headline for the article and have it affect the stock price.

    I just wonder how long-term investors and employees (who also get stock) feel about this. They are the ones that have always believed in the company, it's employees and the goals. Sure getting a guaranteed higher price for each share of stock would be nice, just not sure that's been everyone's goal in their stock purchase and at least Elon would give all shareholders the choice of staying shareholders in a private company with option to sell every six months or so or just cash out.

    Personally I think he's making good on his promise to the short sellers. Think it's something he's thought of doing for a while and warned them it was coming. I do agree that having to try to run a company with all that Tesla has had to from outside of the company is a huge distraction. Feel for employees or shareholders who have no idea where their shares will be day to day, more so than any other company's shareholders.
     
  16. dgpcolorado

    dgpcolorado high altitude member

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    If you read that letter that @diplomat33 linked to, employees and current shareholders can continue to hold stock and will have opportunities to buy or sell every six months or so.

     
  17. SMAlset

    SMAlset Active Member

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    #17 SMAlset, Aug 7, 2018
    Last edited: Aug 7, 2018
    Yes I saw it but hadn't had the opportunity to read it before posting and modified my post while I guess you were quoting and commenting on my post after I got a chance to read it. Had my original comments ready to go before seeing the previous post that was made while I was typing mine. Anyway, yes was happy to read that in his memo. Interesting days ahead and would love to see Tesla not manipulated like it has been.

    I have always seen Elon as being an altruistic person so reading his memo doesn't really surprise me.
     
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  18. ecarfan

    ecarfan Well-Known Member

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    See Elon Musk elaborates on plans for Tesla to go private in email to employees: says structure would be much like SpaceX

    Very smart move by Elon. Price is attractive for those who want to sell (not me, I’m holding my TSLA) or current shareholders can keep their shares. Going private frees management to focus on the long term strategy and will reduce the negative publicity that is often generated by the shorts and skeptics and agents of the fossil fuel industry.

    I hope the shareholders vote to approve taking the company private. Elon has my vote.
     
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  19. Poobearcretu

    Poobearcretu Member

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    The stock went from $340 to $370 today! Fantastic! Thanks, Elon! Tesla Stock.png
     
  20. SMAlset

    SMAlset Active Member

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    Actually it closed at 379.57 and after hours it's at 377.80. Will be interesting to see how it reacts tomorrow and later this week. Didn't the shorts have something like 3 days to cover their positions? Guess it's been getting more expensive for them to do that.
     

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