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

[bdy0627]

and if he didn't, which he probably didnt, then he's in for a lot of *sugar*. thumbing your nose at the SEC like this is always gonna catch the SECs attention. and everyone here loves to act like the SEC has a grand conspiracy with the shorts but frankly this is how laws work. the settlements they negotiate have to be adhered to or they are meaningless.

Why would Elon need pre-approval for a tweet that includes Tesla's published production guidance?

 

[Curt Renz]

Did price and volume go up in AH at the time of the original tweet at 7:15 PM ET? If not, Elon's assumption that it was not material was proven correct. Can anyone access the after hours chart on the day? What happened at 4:15 PM ET?

Here is a screenshot from Thinkorswim. The times are CST (UT-6). I placed a solid vertical line at 18:15, i.e. 6:15 pm CST (7:15 pm EST) on February 19, the time of the first tweet in question. The dashed vertical line just to the right of there marks the separation between after-hours trading on the 19th and pre-market trading on the 20th, i.e. 7 pm CST to 3 am CST. Between those two times at 10:41 pm CST is when Elon tweeted a clarification.

 

[kyzhk]

A private Tesla looking better by the second and it looked awesome last year. That’s what I’m asking Santa for, sooner rather than later.

So, would any "accredited investor" be able to invest in tesla after it goes private? I think they have a hard limit on total # of investors allowed.

 

[Krugerrand]

I seriously hate being invested in this company.. most of the time. Years of this nonsense, it’s enough to frustrate the most diehard investor. Elon has been poking the bear, ego can be a terrible thing.

You missed the part where rollover and present the belly isn’t part of who he is? Please. Get out then and stop complaining. Your frustration is misplaced. It deserves to be pointed at the crooks, not the guy trying to save your descendants.

 

[MXWing]

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

What tends to happen being a responsible individual is I’ll close any negative position liquidating something else.

Any issues today or tomorrow is just noise and momentum trading.

 

[anthonyj]

JonP on Twitter

Elon just liked this tweet

 

[sdtslafan]

Here is a screenshot from Thinkorswim. The times are CST (UT-6). I placed a solid vertical line at 6:15 pm CST (7:15 pm EST) on February 19, the time of the first tweet in question. The dashed vertical line just to the right of there marks the separation between after-hours trading on the 19th and pre-market trading on the 20th, i.e. 7 pm CST to 3 am CST. Between those two times at 10:41 pm CST is when Elon tweeted a clarification.

View attachment 380570

If anything, it looks like the stock moved less during that time period that elsewhere. This is nothing too important, IMO. I honestly don't thing the SEC is out of line here. They just want to make sure a process is in place so another BIG mistake doesn't happen. This is good for us shareholders.

 

[Artful Dodger]

For those who missed it:

View attachment 380539

I did miss this statement, thanks. What's the source?

Cheers!

 

[dddaaa0]

* Doesn't matter if Musk said "around 500k" or "exactly 500k". Tweet was about number of cars they will make. It is material information.
* Doesn't matter if the tweet was restating what they stated in Q4 ER. Tweet wasn't repeating the information verbatim, and was obviously "edited" (non-verbatim). Pre-approval (for Q4ER communication) wasn't reconfirmed (within 2 days prior) before tweeting the edited information.
* I'm sad.

 

[capster]

SEC makes me wonder who will respond to the dog whistle next.

Now after me "Riddikulus!"

 

[Causalien]

Totally agree with this. If Elon was simply discussing the level of production Tesla had guided for in order to make an unrelated point about Tesla's rapid progress, but made an "oops" in terms of not clarifying it was an annualized production level, he would not have been required to have his tweet pre-approved. It is not logical to make the jump to concluding that he in fact should have known he needed it pre-approved only because he tweeted information that appeared different than guidance.

My initial thought on this is wondering if SEC knows this will just result in a warning since it is not a clearcut violation. They may feel the need to do something since Elon continues to tweet about Tesla stuff similar to before the agreement, and he has even indicated that his tweets are not pre-approved. To be in contempt, Elon has to knowingly violate the terms of the agreement, essentially thumbing his nose at the court. Courts do not like that. Unknowingly violating the agreement really doesn't count as contempt. By all appearances, this was not an intentional violation. I don't know how in bed these judges may be with the SEC, but I think it's a serious stretch to conclude Elon's tweet was in contempt of the agreement. However, we also know a lot about Tesla guidance and Elon's tweets. We are very used to Elon's tweeting. A judge may have no idea about it all and could focus very closely on whether or not Elon was tweeting material information regarding Tesla without pre-approving the tweet. In that case, I think there is room for finding him in contempt. You really have to look at the overall context of his tweets to understand that he was not thumbing his nose at the court. I'm not at all sure a judge will take that approach.

Judging by what's been happening. Judges sec etc are all in bed with the shorts. So I would assume worst case scenario. SEC moves to bar elon from being an officer. Even if it isn't approved. It'll benefit the shorts.

This is the same sec that did not jail any bankers in the 2008 gfc. Think of the most corrupt outcome and that's what you will get.

 

[printf42]

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.

THIS
Hence, it’s already disclosed none-material information, no need to seek approval, especially after hours.

 

[Mobius484]

Think the shorties have their short shorts in a wad over nothinburger. I appreciate Elon clarifies the info he did. Buy up tommorow!

 

[Krugerrand]

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.

Well, and he wasn’t even reiterating guidance specifically, but giving a timeframe comparison from beginning of Tesla to end of year Tesla.

The people going on and on, are not actually concerned about facts so they won’t read your post even if you do it in multiple colors. They just want to blame Elon for ever SP depressing that goes on. And that is just another reason why I want private Tesla. Melodramatic people are nauseating. As are the ones who make illogical leaps.

 

[Unpilot]

If this crooked activity does not make you resolve to support Tesla more than ever I feel sad for you and yours.
EVERY day we witness market manipulation and "market makers" basically steal money from Tesla stock movement.

The amount of misinformation and lying is absurd when it comes to Tesla. ANY news that can be slanted to paint a negative picture is given front page news. Every derogatory name that can be used to tear down EM and Tesla is fine.

Yet a tweet that has already been presented as guidance and does not move the market warrants this response??

Excuse me I need to go pet my dog and cat...they are worth more than the filth that is the sec.

Edit: for typo...I am more that a little upset,,,can't express my disillusion as well as I would like.

 

[dc_h]

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.

Was that CEO Bruce Wayne?

 

[Singuy]

* Doesn't matter if Musk said "around 500k" or "exactly 500k". Tweet was about number of cars they will make. It is material information.
* Doesn't matter if the tweet was restating what they stated in Q4 ER. Tweet wasn't repeating the information verbatim, and was obviously "edited" (non-verbatim). Pre-approval (for Q4ER communication) wasn't reconfirmed (within 2 days prior) before tweeting the edited information.
* I'm sad.

View attachment 380571

Correct, it was "material information". But it was not an violation since the material information needs to move the stock. Since all the information tweeted was in the conference call, it no longer qualifies as material information that move the stock(....and that's why the stock didn't move....).

By your logic, Elon will get in trouble by saying "Tesla is a company that will be making.......roof tiles!"..yeah..we know....

 

[InDaClub]

It's amazing how it only takes one "juicy" story to bring out people we haven't heard from on this forum in months...or ever.

Did you mean to say people or cockroaches?

 

[Alphacrux]

This should be an interesting case. Said tweet wasn’t intended to be news, just be in line with already-stated guidance. It was just misworded. Implies that even a typo making something sound like news would violate the agreement.

I’m just catching up on the forum. Wasn’t the tweet to correct misinformation in the Ark invest interview?

 

[Mobius484]

That’s how I took it. But don’t listen to me, I’m Long TSLA....