Probably why he thinks his TipRanks score is pretty good.To pile on (it is SO fun!), said author of above obviously also doesn’t realize what a “-6% price cut” means…..
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Probably why he thinks his TipRanks score is pretty good.To pile on (it is SO fun!), said author of above obviously also doesn’t realize what a “-6% price cut” means…..
Yeah, no shrimpy little furrin compacts here in Texas. American CTrucks and Semis (hopefully)!CATL is building a new 80GWh/yr bty factory in Shanghai, rumoured to be exclusively for the Tesla Model 2. That's enough for 2M cars per year if each has a 40 KWh bty pack (which should still provide > 200 mi range in a smaller car).
It's at least a year to build out that factory, more likely to be done in 4 phases of 20GWh/500K cars/yr in sync w. Tesla's new factory buildout IMO.
Shanghail the World Manufacturing and Export Hub! (but only because Texan Teslas will mainly stay in N. America)
Cheer!
I can't remember, but did he say right before this that it applies to now. He could have just been explaining the time it takes and they could have been working on it sooner than anyone knows....On the 2021Q2 Conference Call, Elon said it takes 12-18 mths to construct a new Fab.
So that puts MiC Model 2 start-of-production at 2023Q1 (right on scheduule).
"Never bet against Elon"
I can't remember, but did he say right before this that it applies to now. He could have just been explaining the time it takes and they could have been working on it sooner than anyone knows....
So let me guess this straight: Sounds like under the agreed upon covenant, holders of these bonds had to wait till 2024 to convert them to 16 shares of TSLA each.Warning for 2024 Tesla Convertible Bond holders
These bonds convert to Tesla shares in 2024 at a price of $309/share for the face value of the bond = $61/share post split (16.1 shares / $1000 face value).
Tesla is offering to convert these bonds to shares now, but at a large loss to bondholders. My broker's corporate actions team has said that Tesla's terms include their discretion to convert to shares or even cash at a rate of $1000 cash per $1000 bonds (ie losing 90% of the value of the market price of the bonds).
Before learning this, I naively thought Tesla would convert the bonds at the convertible note's rate of 16.1 shares per $1000. Instead, Tesla converted at a rate of ~14 shares / $1000, so I lost 15% of the shares I would have received in 2024, or from just selling the bonds.
My broker's corporate actions team told me they was working with someone else with the convertible bonds. They recently converted a small amount to see what would happen, but they were not happy with the shares received. Due to client confidentiality, I couldn't get more information but I believe they were shortchanged like I was.
Personally, this seems really shady. Converting bonds to shares saves Tesla 2% a year on interest, and they'd have to give up the shares in 2024 anyway. I don't see the justification for converting at a discount and making changes daily. Bond holders believed in Tesla in 2019, providing loans when Tesla needed it the most. Now Tesla is shortchanging them.
Does anyone else have convertible bonds or have converted them after the Tesla split? Let me know if you'd be willing to share your experience, or let me know if you'd like more details.
He unfollowed polar star rose a few minutes later and said sorry, misclick.
North star rose (Polar Star rose).
Looks like it sure did.
(Right at 2:00PM pacific time)
For context, I must add, he came through on his Chairs, Chairs are under appreciated messaging around this ER. The results were beyond even bull side expectations.
Double stuffed Oreos.Yeah ...but a fool that would buy a mountain??
So let me guess this straight: Sounds like under the agreed upon covenant, holders of these bonds had to wait until 2024 to convert them to 16 shares of TSLA each.
Now Tesla is offering, and you can refuse, to convert them right now at a new rate of 14 shares.
Is this right?
Issuer: | Tesla, Inc., a Delaware corporation (the “Issuer”) | |
Ticker / Exchange for Common Stock: | TSLA / The Nasdaq Global Select Market (“Nasdaq”) | |
Pricing Date: | May 2, 2019 | |
Settlement Date: | May 7, 2019 (T+2) | |
Nasdaq Last Reported Sale Price on May 2, 2019: | $244.10 per share of common stock of the Issuer, par value $0.001 per share (the “Common Stock”) | |
Total Transaction Size: | Approximately $2.3 billion in net proceeds from the Common Stock Offering (defined below) and Convertible Notes Offering (or up to approximately $2.7 billion if the underwriters’ options to purchase additional shares of Common Stock and additional Notes (defined below) are both exercised in full). | |
Convertible Notes Offering | ||
Securities Offered: | 2.00% Convertible Senior Notes due 2024 (the “Notes”) | |
Aggregate Principal Amount Offered: | $1,600,000,000 aggregate principal amount of Notes (or $1,840,000,000 aggregate principal amount of Notes if the underwriters exercise in full their option to purchase additional Notes) | |
Maturity: | May 15, 2024, unless earlier purchased or converted | |
Interest Rate: | 2.00% per annum, accruing from May 7, 2019 | |
Interest Payment Dates: | May 15 and November 15 of each year, beginning on November 15, 2019 |
Price to Public: | 100% of the principal amount of the Notes plus accrued interest, if any, from May 7, 2019 | |
Conversion Premium: | Approximately 27.5% above the Price to Public in the Common Stock Offering | |
Initial Conversion Price: | Approximately $309.83 per share of Common Stock | |
Initial Conversion Rate: | 3.2276 shares of Common Stock per $1,000 principal amount of Notes | |
Underwriting Discount: | $11.00 per $1,000 principal amount of Notes | |
$17.6 million in aggregate (or $20.2 million in aggregate if the underwriters exercise in full their option to purchase additional Notes) |
I'm confused. Are you saying Tesla is not following the terms that were agreed upon when the instruments were purchased? If so, wouldn't you simply sue them to force them to keep their word?
What gives here? I suspect you bought an instrument you were totally unfamiliar with.
it has been a longtime since clicking on the 5 day graph of TSLA made me feel good.
Go ahead, go make yourself feel good.
Tesla, Inc. (TSLA) Stock Price, News, Quote & History - Yahoo Finance
Find the latest Tesla, Inc. (TSLA) stock quote, history, news and other vital information to help you with your stock trading and investing.finance.yahoo.com
I am saying two retail investors received less shares than expected when converting post split. Other members on this forum that converted prior to the split appear to have received all the shares due to them.
I can't remember, but did he say right before this that it applies to now. He could have just been explaining the time it takes and they could have been working on it sooner than anyone knows....
Building an entry-level factory that produces 50,000 wafers per month costs about $15 billion
It sounds like you are saying some investors didn't receive all the shares due to them?
I would expect Tesla would follow the terms of the note.
This fab thing needs to die. What Tesla is doing already with their firmware coding is more than enough to get through this temporary shortage. But to build their own fab to solve a temporary chip shortage is like using a sledgehammer to kill a fly.He said that to explain why it made 0 sense for Tesla to "just build a fab" as many had suggested to him as a "solution" to the current, temporary, chip shortage.
He was communicating exactly why they're NOT building one.
That's apart from the cost.
Why Making More Chips Is So Hard
Factories start at $15 billion—and cost is the easy part.www.bloomberg.com
And honestly that 12-18 months is INSANELY optimistic (he even mentions that'd basically be building at light speed)... Even for companies for whom this is their primary business and have roughly comparable market caps to Tesla (TSMC for example) 2-3 years to build a fab and then you START production is typical.
TSMC is spending 28 billion just this year on new factories/equipment, nearly 2x Teslas current cash on hand-- and they don't expect to be producing product at the new fabs until like 2024.
1. We don't get copies of the conversion offers from Tesla. I've requested copies from two brokers, but they aren't willing to give them out.
Some investors (me being one) received less shares than stated on the note. My guess is that Tesla must offer the conversion rate at some point, but can make other offers with arbitrary terms. The retail investor is at risk because:
1. We don't get copies of the conversion offers from Tesla. I've requested copies from two brokers, but they aren't willing to give them out.
...Fidelity has not approved his account for Level 2 Options (to sell cash secured Puts).
There is value in helping push the energy transition out onto the water. Yachts aren’t a bad place to start—in the same way that the first Roadster and the Model S helped pave the way for subsequent vehicles.\
Yachts and Gulfstream jets.
Perhaps you are not familiar with the meaning of the word "and"?
Also, yachts, even sailing yachts, have huge carbon footprints over their useful lives, even compared to a gas or diesel car. I'm not going to say what's right for others but I know I couldn't enjoy a large yacht myself even though I love being on the water.
And finally.....
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HUH????
Oh right....digging a little deeper......
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