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

[mongo]

The above highlight is new.

It isn't though. 2022, 2023, and 2021 all have identical wording.

2022:
Amount beneficially owned: 715,022,706 shares which includes (i) 411,051,576 shares of Common Stock held by the Elon Musk Revocable Trust dated July 22, 2003 and (ii) options to purchase 303,971,130 shares of Common Stock that are exercisable within 60 days of December 31, 2022.
2023:
Amount beneficially owned:715,022,706 shares which includes (i) 411,062,076 shares of Common Stock held by the Elon Musk Revocable Trust dated July 22, 2003 and (ii) options to purchase 303,960,630 shares of Common Stock that are exercisable within 60 days of December 31, 2023.

2021:

Amount beneficially owned: 231,715,206 shares which includes (i) 172,608,251 shares of Common Stock held by the Elon Musk Revocable Trust dated July 22, 2003 and (ii) options to purchase 59,106,955 shares of Common Stock that are exercisable within 60 days of December 31, 2021.​

 

[carterm2]

Trying to track various Musk companies... movement.

1. Tesla Texas (?) (Delaware)
2. The Boring Company: Nevada. (Mar2023). (Delaware)
3. Neuralink Nevada. (Feb 2024) (Delaware)
4. SpaceX Texas. (Today?) (Delaware)
5. X.com (Twitter) Nevada (2023). (Delaware) Subsidiary of X Holdings
6. X.AI Nevada. (Mar2023)

Musk

https://twitter.com/x/status/1757924482885583112

 

[dl003]

It isn't though. 2022, 2023, and 2021 all have identical wording.

2021:

Amount beneficially owned: 231,715,206 shares which includes (i) 172,608,251 shares of Common Stock held by the Elon Musk Revocable Trust dated July 22, 2003 and (ii) options to purchase 59,106,955 shares of Common Stock that are exercisable within 60 days of December 31, 2021.​

wait u actually went back and read these filings? How dare you?

 

[dl003]

'Algos' don't buy 5.3M shares Aftr-hrs with just 74.7M traded during the main session. This is some covering (shortzes hate uncertainty).

Clearly, the Market was waiting for this News, as was I. From Feb 5, 2024:

and you dont think the shorts use algos to automate their trading?

 

[khill]

stock will go down as he needs to sell a portion to pay taxes.

By when do you think he needs to sell the stock to pay taxes?

 

[Artful Dodger]

Why file this when there are no changes whatsoever? Hmmm

Did you see my Feb 5th post? We were expecting this 45 days after the end of FY2023, per SEC annual reporting requirements for insiders. Here's his Form SC 13G/A filed on Feb 14th, 2023 (the previous Annual filing).

 

[hobbes]

https://twitter.com/x/status/1758010709839851677

EDIT: When I translate the linked source article, it seems Sawyers headline is wrong, 4680s not yet made in US in August but in Korea:

LG Energy Solutions plans to first begin mass production of 4680 batteries at its Ochang factory in North Chungcheong Province and begin mass production in North America once its Arizona factory under construction is completed. LG Energy Solution will begin mass production of 4680 batteries at its Ochang factory as early as August.

4680 batteries are supplied to Tesla, an American electric vehicle company. LG Energy Solutions is also considering mass producing 4680 batteries at its Nanjing factory in China. President Kim said, “We are thinking of various ways,” and “We are also discussing (with customers other than Tesla).”

Also, from their point of view the slowdown in the cell/EV market is temporary (reading a bit between the lines here though):

Meanwhile, regarding the battery industry situation, President Kim said, "I think the mega trend will go well. I think it's because of various economic variables for a while, but I think it's a good opportunity." “We are preparing for a sharp rise,” he emphasized.

김동명 LG엔솔 사장 "4680 배터리 곧 양산, 이르면 8월"

(서울=뉴스1) 한재준 기자 | 김동명 LG에너지솔루션(373220) 사장은 15일 4680(지름 46㎜, 높이 80㎜) 원통형 배터리를 이르면 8월부터 양산할 예정이라고 밝혔다. ...

www-news1-kr.translate.goog

Does anyone have a good theory into which Tesla products/cars these 4680s would go, both those made in China and later those made in the US?

 

[aubreymcfato]

Does anyone have a good theory into which Tesla products/cars these 4680s would go, both those made in China and later those made in the US?

One can hope... Semi.

(source: Tesla Semi 4680 Battery Pack Engineering Analysis)

 

[hobbes]

Lots and lots of good technical info on Highland from Lars Moravy, this is only one thread, best check his whole recent replies on X:

https://twitter.com/x/status/1757919439939653673

Good to see him and Rohan Patel post more to improve the signal to noise ratio!

 

[Artful Dodger]

It isn't though. 2022, 2023, and 2021 all have identical wording.

2021:

Amount beneficially owned: 231,715,206 shares which includes (i) 172,608,251 shares of Common Stock held by the Elon Musk Revocable Trust dated July 22, 2003 and (ii) options to purchase 59,106,955 shares of Common Stock that are exercisable within 60 days of December 31, 2021.​

Good catch, thanks for that. A closer reading of the SC 13G/A filings for 2022 and 2023 reveals that Elon converted 10.5K Options into Shares in 2023:

I never saw a filing for that, so it will be interesting to follow subsequent filings.

Cheers!

 

[Artful Dodger]

What happened to move to TX or (Nevada)? This move would not need any fees right?
Paying legal fees is just a waste, and results are still in doubt .... coin toss with 30-70 chances of winning ...

The move from Delaware has to be authorized by a vote of shareholders (the mechanics of the move are simple).

Elon Musk on X: "The public vote is unequivocally in favor of Texas! Tesla will move immediately to hold a shareholder vote to transfer state of incorporation to Texas." /X (Feb 01, 2024)​

Cheers!

 

[EVMeister]

The move from Delaware has to be authorized by a vote of shareholders (the mechanics of the move are simple).

Elon Musk on X: "The public vote is unequivocally in favor of Texas! Tesla will move immediately to hold a shareholder vote to transfer state of incorporation to Texas." /X (Feb 01, 2024)​

Cheers!

"But this vote could be overturned by a dude with 9 shares, so be careful!"

 

[Artful Dodger]

"But this vote could be overturned by a dude with 9 shares, so be careful!"

Haha, more truth there than folks may realize: (the State Supreme Court may have to weigh in on this, too)

"State law had required a unanimous shareholder approval. Since a change in 2022, companies can leave Delaware with the approval of a majority of shareholders. But Delaware's Chancery Court is now considering how closely to scrutinize moves that arguably benefit a controlling shareholder."​

Explainer: Did Delaware 'lock the doors' to stop companies from leaving, as Elon Musk claims? | REUTERS (18 hrs ago)

Jolly jokers

What Elon wrote was this:

Elon on X: "Change your state of incorporation out of Delaware before they lock the doors. They are currently blocking John Malone from changing incorporation from Delaware to Nevada." /X (Feb 01, 2024)​

Cheers to the Longs!

 

[Artful Dodger]

I just wish he told me before we got in the car.

Elon said 6 years ago "if you don't like volatility, sell TSLA shares and don't buy them". Did you forget, or just ignore him?

Musk Says Don't Buy Volatile Tesla Stock; Investors Take Heed | BNN Bloomberg (May 3, 2018)​

So that's exactly what shortzes have done all these years, and are still doing: Selling and not Buying TSLA.

This will end poorly for short sellers, because Tesla the Business can no longer be affected by the money-changers. They are dancing between the raindrops, ignoring the coming deluge of profits.

 

[spacerfc]

Explainer: Did Delaware 'lock the doors' to stop companies from leaving, as Elon Musk claims? | REUTERS (18 hrs ago)

From the Reuters article: "Texas does not shield corporate leaders in the same way as Nevada - meaning it could be harder for Tesla shareholders to argue a move there is designed to let Musk escape liability."

I think this is one of the reasons he's moving Tesla to Texas instead of Nevada, much easier to defend this move against new lawsuits.

 

[Artful Dodger]

From the Reuters article: "Texas does not shield corporate leaders in the same way as Nevada - meaning it could be harder for Tesla shareholders to argue a move there is designed to let Musk escape liability."

I don't trust anything from roto-REUTERS, I include it just to show the opposition's spin. The notion that Musk is trying to "escape liablility" is laughable. The company hasn't paid him yet for 6 years of hard work. That's the 'liability'.

I think this is one of the reasons he's moving Tesla to Texas instead of Nevada, much easier to defend this move against new lawsuits.

Perhaps. I think this is also an opportunity to create new case law in Texas. And don't be surprised to see Kimbal at the State House or Texas Legislature.

Cheers!

 

[mongo]

Good catch, thanks for that. A closer reading of the SC 13G/A filings for 2022 and 2023 reveals that Elon converted 10.5K Options into Shares in 2023:

View attachment 1018525

I never saw a filing for that, so it will be interesting to follow subsequent filings.

Cheers!

Yeah, I missed that F4 at the time also. It was from an old patent incentive plan. I guess adding to his share count isn't news...
In the two months betwen the grants, Tesla went up 39%.

SEC FORM 4

based on the single Form 4 from 2023 where he exercised 10,500 long held options

wait u actually went back and read these filings? How dare you?

Ha! I read them a bunch when we were calculating actual ownership percentage pre and post Delaware ruling with dilution backed out. I must have glossed over the 10,500 share discrepancy.

 

[Mengy]

This will end poorly for short sellers, because Tesla the Business can no longer be affected by the money-changers. They are dancing between the raindrops, ignoring the coming deluge of profits.

I know this is a popular conception, that "this will end badly for the TSLA shorts", but so far they've been able to manipulate TSLA to mostly their hearts content. I wonder what needs to happen for this loss of control to take place? The PE Ratio still has a lot of room for compression, so mathematically the shorts still have a LOT of working room to continue to keep TSLA capped or even drive it lower yet.

 

[Artful Dodger]

Elon neither bought nor sold shares in 2023 which we already knew based on the single Form 4 from 2023 where he exercised 10,500 long held options

Cool! Do you have quick access to a link to that Form 4? Thanks!

 

[OrthoSurg]

Still buying options?

couple of June 2026 LEAPS