LIAR!Well good news is that Henry Rollins is also a really interesting guy![]()
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LIAR!Well good news is that Henry Rollins is also a really interesting guy![]()
So you're just mad that the SP went up and then back down? You think that Elon Musk made this tweet to affect short term SP and to make it go down? I'm shaking my head at your point then. Perhaps some clarification is in order.Firstly I didn’t ask you for anything. Secondly if you took the time to read my original post, all I’m stating is that Elon killed stock momentum to go private at a lower price. Pretty simple. But then again why would I expect a “motor mouth” to think before talking....
Don't forget that Musk also tweeted: "Investor support is confirmed. Only reason why this is not certain is that it’s contingent on a shareholder vote."I just read that someone who knows corporate finance law and has done lots of M&As said that "secured" doesn't mean much in this context: verbal commitments count as "secured". That's just what it means.
I don't like this article, but there's an important quote in it:
Tesla still hasn't said where its secured financing is coming from — here's what that probably means
Musk said "secured", not "committed". I believe his funding is secured, not committed.
Not sure anybody said shorting is illegal as you suggest. Repugnant, unsavory, immoral, unethical...that's a different conversation.I did too, and bought few more puts at a discount tooThank you Elon!
The ignorance and hatred on this forum about short selling is astounding. I put the link out there, but the posters whose 90% posts are about shorts don't even browse it. Like ti or not, short selling is legal if done properly (just like buying shares) and short sellers are legit market participants.
Jim Chanos said it best: "Short selling is the best thing that is going on for this company right now" ( to be newsworthy).
I will admit no such thing. This is classic Elon and I love it. Best rollercoaster ride in the world. And anyone sitting on the board knew in advance what they signed up for; they have no excuse. I imagine they are all laughing, rolling their eyes, shaking their heads and drinking heavily.
If Larry Page says "Hey, I'd like to borrow some money against my Alphabet shares", the bank *does not ask him what he's going to use the money for*.
So, sure, technically big banks would be involved, but they wouldn't *know anything*.
It could actually be pretty straightforward. There's some confusion about the word "private". If the company stays "public" for SEC reporting purposes, but delists from all exchanges, eliminates options trading, and gets a right-of-first-refusal on all share sales, that pretty much accomplishes Musk's goals.
That's.... actually not that complicated. Entities which aren't allowed to hold unlisted stock would still have to sell, which is where the tender offer for $420/share comes in. Tender offers are also pretty simple...
Indeed, fancy legal advice will be needed. The usual M&A law firms wouldn't tell you if they were being consulted obviously -- lawyers are confidential!
I don't see the clip. Do you have a link?Joe Terranova 30 sec ago on CNBC (transcript is paraphrased):
Today I bought $15k-worth Aug $365 calls. I believe there are questions about Musk's tweet veracity. He said "funding secured". He has 4 days to clarify it.
Q: Are you making a trade or a statement?
I'm making a statement. This can be resolved very easily in the Valley. His billionaire peers should be calling him right now to tell him "we support you in this, we're in". The market is now calling Musk's bluff. He has four days to file an 8-K. He has four days!
Q: Are you positioning yourself to join a class-action lawsuit?
Yes. I think he [Musk] is an untruthful individual.
Verbal contracts are binding in CA.Don't forget that Musk also tweeted: "Investor support is confirmed. Only reason why this is not certain is that it’s contingent on a shareholder vote."
"Certain" is a strong word, and it means something. I don't think Elon could say this without having a written agreement with terms specifying $420. That would be dishonest. If it turns out all he has is a verbal understanding with someone, he will be crucified. And rightly so.
Not yet, it takes some time before they cut clips for the website. This had just happened when I posted it (when he started speaking, I started typing).I don't see the clip. Do you have a link?
Dan
Does it bother you at all that your assessment of TSLA is wrong virtually every time you post about it?Whatever we may think here, I think the market is making it pretty clear that it doesn’t believe this deal is going to happen.
Verbal contracts are binding in CA.
For sure. I was responding to the point that if Musk doesn't have this in writing he is in trouble.Really? Anyways, still means nothing. The deal points are so complicated that a verbal commitment could only commit someone to good faith negotiations. Doesn’t mean the negotiations can’t fall apart.
And those shares would be subtracted from the number needed to complete the process.I can imagine those "secured funders" will be lapping-up as many shares as they can below 420...