Tesla, TSLA & the Investment World: the Perpetual Investors' Roundtable

[TSLA_Hopeful]

It

Probably a nothing burger...but the short's and care bear's seem pretty hungry.

Definitely not a nothing burger... Elon needs to shut the hell up.

 

[anthonyj]

Would be funny if the Bloomberg tracker is right and Tesla is actually building 7k Model 3’s a week. Would be extra funny if Tesla upgrades guidance to 450-500k production this year. Wonder if SEC’s case would hold up then.

I think the plot is to take the company private at a lower valuation and without Saudi influence. I read about this playbook before. Another CEO did the same. Damage the brand image and then took the corp private.

Lol. Sounds like me in 2018

 

[MXWing]

The more shorts piss me off here the more I’m going to buy on more margin tomorrow.

Keep talking I’m loading.

 

[SO16]

The more shorts piss me off here the more I’m going to buy on more margin tomorrow.

Keep talking I’m loading.

I’m glad I don’t buy on margin. TSLA is stressful enough.

 

[kyzhk]

Would be funny if the Bloomberg tracker is right and Tesla is actually building 7k Model 3’s a week. Would be extra funny if Tesla upgrades guidance to 450-500k production this year. Wonder if SEC’s case would hold up then.



Lol. Sounds like me in 2018

I think whether or not Tesla produces 500k this year is not what SEC cares about. SEC only has one claim here:
"EM did not have his market moving material news about tesla reviewed before posting as agreed in settlement".

I outlined the argument on the other side in another post.

 

[KarenRei]

elon signed a legal document saying he'd have his tweets reviewed before publishing.

No, he did not.

I'm not so sure why actually reading the SEC agreement and Tesla's social media policy is so difficult for some people in this thread, given that they've been linked right here.

Let me put this in all caps, bold, italics, underline, and the largest possible font, to make it clear:

ELON IS NOT REQUIRED TO HAVE EVERY TWEET READ AND PRE-APPROVED.

Is that clear enough?

His obligation, imposed by the SEC settlement and Tesla's social media policy (which in turn was a result of the settlement), is that he must seek pre-approval for any tweet containing material information. That's it. There is no requirement that every tweet he makes must have a babysitter examine it for errors first.

As was made very clear by his council, and is obvious to anyone with half a brain, he was in no way attempting to post material information - just reiterate guidance.

 

[Causalien]

Judging from the series of events. It looks like the general council quit after the tweer. Realizing that Elon will get himself in trouble again and he will eventually have to babysit Elon.

This is also reminding me of Steve Job's ouster. If enough damage to tsla can be associated with elon. He will eventually be ousted.

In any case Elon. My advice to you is to learn one of the greatest weapon of the CEO. Learn to never use hard numbers.

Production of 0 to 500k. "From scratch to the mass production we have today."

420, "A fair premium to current stock price to be determined based on past deals and advisors"

All things said. I am going in again.

Elon, if you keep this up, you are going to see two less purchase of your car cause the stock price is more attractive.

 

[Wnuk]

Ugh. Never a dull moment. It seems the SEC has the ear of the shorts more than I suspected.

 

[mershaw2001]

No, he did not.

As was made very clear by his council, and is obvious to anyone with half a brain, he was in no way attempting to post material information - just reiterate guidance.

I believe by confirming the high end of the range of guidance it is a material change in guidance. This sort of stuff often moves companies and it did move tesla after hours, albeit small.

 

[Bet TSLA]

By this point, if Elon doesn't have a coherent and clearly legal way to take Tesla private on his own terms, he's an idiot. He's not an idiot.

I predict he will do that if he suffers anything adverse from this SEC idiocy. What he's trying to do is hard enough without the endless crap he's been taking. Private at $360. Small investors and ARK be damned. Too bad.

 

[WhenYouWill]

His obligation, imposed by the SEC settlement and Tesla's social media policy (which in turn was a result of the settlement), is that he must seek pre-approval for any tweet containing material information. That's it. There is no requirement that every tweet he makes must have a babysitter examine it for errors first.

As was made very clear by his council, and is obvious to anyone with half a brain, he was in no way attempting to post material information - just reiterate guidance.

It was material, and it wasn't guidance.

• A) The guidance was 350k - 500k. That's a huge range. There's a big difference between coming in at the low-end and coming in at the high-end. Elon's tweet said "we will make the high-end" - that's material.
  
  
• B) It wasn't guidance; it was a declarative statement. That's why "funding secured" was so problematic - he declared to have funding when, in fact, he didn't.

And just consider this (I'll use your big letters):

One of the top securities lawyers in the world resigned over this

If it was "all good," why would Tesla's lawyer resign?

The biggest mistake, imo, was the "I don't respect the SEC" thing several months ago. His biggest mistake was taunting the SEC, and now he's going to pay for it.

 

[agloutney]

He said “around” 500k

 

[KarenRei]

I believe by confirming the high end of the range of guidance it is a material change in guidance. This sort of stuff often moves companies and it did move tesla after hours, albeit small.

It wasn't even the high end of guidance. 350-500k was for Model 3s. Add in 80k for S+X, that's 430-580k. Musk's tweet was, and I quote: "Tesla made 0 cars in 2011, but will make around 500k in 2019". Tell me, is 430-580k "around 500k"? Sure looks that way to me.

 

[Causalien]

I believe by confirming the high end of the range of guidance it is a material change in guidance. This sort of stuff often moves companies and it did move tesla after hours, albeit small.

Ya Elon likes hard numbers and precision, part of his personality. He doesn't talk in gray areas. That's the refreshing part. Except he's missed the more precise numbers many times now, so probably better to use gray numbers.

 

[ls7corvete]

His tweet was not guidance - it was a declarative statement.

Big difference between "we expect to make around 500k" vs "we will make 500k"



From the court filing:

There is a big difference between "but will make around 500k" and "we will make 500k" as well. But you conveniently forgot that part. Difference is, you want to hold Elon in contempt, I doubt you hold yourself to the same standard.

 

[Leo9]

It was material, and it wasn't guidance.

• A) The guidance was 350k - 500k. That's a huge range. There's a big difference between coming in at the low-end and coming in at the high-end. Elon's tweet said "we will make the high-end" - that's material.
  
  
• B) It wasn't guidance; it was a declarative statement. That's why "funding secured" was so problematic - he declared to have funding when, in fact, he didn't.

And just consider this (I'll use your big letters):

One of the top securities lawyers in the world resigned over this

If it was "all good," why would Tesla's lawyer resign?

The biggest mistake, imo, was the "I don't respect the SEC" thing several months ago. His biggest mistake was taunting the SEC, and now he's going to pay for it.

The stock didn’t move.

 

[WhenYouWill]

As karenrei pointed out, why is repeating something that was already discussed during the conf call, considered “market moving”?

Because the conference call gave a range - 350k - 500k - and Elon said "we will make the high-end of that range." That's a material change in guidance.

Again, if this was "no big deal, all good," why would one of the best securities lawyers in the world resign?

 

[MarcusMaximus]

Because the conference call gave a range - 350k - 500k - and Elon said "we will make the high-end of that range." That's a material change in guidance.

Again, if this was "no big deal, all good," why would one of the best securities lawyers in the world resign?

You keep repeating the range he gave of model 3 alone, but his tweet was about all vehicles. He also said “about”, but you keep leaving that out as well.

 

[mershaw2001]

It wasn't even the high end of guidance. 350-500k was for Model 3s. Add in 80k for S+X, that's 430-580k. Musk's tweet was, and I quote: "Tesla made 0 cars in 2011, but will make around 500k in 2019". Tell me, is 430-580k "around 500k"? Sure looks that way to me.

That's a good point, I made a mistake there on the numbers. However you want to run the numbers, however, it is a material statement as he was confirming a particular production number, and for that reason my argument is still valid even if he was essentially saying "we will make 430 model 3"

 

[Unpilot]

It was material, and it wasn't guidance.

• A) The guidance was 350k - 500k. That's a huge range. There's a big difference between coming in at the low-end and coming in at the high-end. Elon's tweet said "we will make the high-end" - that's material.
  
  
• B) It wasn't guidance; it was a declarative statement. That's why "funding secured" was so problematic - he declared to have funding when, in fact, he didn't.

And just consider this (I'll use your big letters):

One of the top securities lawyers in the world resigned over this

If it was "all good," why would Tesla's lawyer resign?

The biggest mistake, imo, was the "I don't respect the SEC" thing several months ago. His biggest mistake was taunting the SEC, and now he's going to pay for it.

Must be nice to be a mind reader.