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dmckinstry
Model X 2019
Well, it's true that one can't beat a dead horse forever. However one can pass the stick off to another member of TMC and keep it up a very very long time.
highlights of the NYT David Gelles piece:
That morning, Mr. Musk woke up at home with his girlfriend, the musician known as Grimes, and had an early workout. Then he got in a Tesla Model S and drove himself to the airport. En route, Mr. Musk typed his fateful message.
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
Mr. Musk has said he saw the tweet as an attempt at transparency. He acknowledged Thursday that no one had seen or reviewed it before he posted it.
. . .
Mr. Musk has said he was referring to a potential investment by Saudi Arabia’s government investment fund. Mr. Musk had extensive talks with representatives of the $250 billion fund about possibly financing a transaction to take Tesla private — maybe even in a manner that would have resulted in the Saudis’ owning most of the company. One of those sessions took place on July 31 at the Tesla factory in the Bay Area, according to a person familiar with the meeting. But the Saudi fund had not committed to provide any cash, two people briefed on the discussions said.
Another possibility under consideration is that SpaceX, Mr. Musk’s rocket company, would help bankroll the Tesla privatization and would take an ownership stake in the carmaker, according to people familiar with the matter.
An hour and 20 minutes after the tweet, with Tesla’s shares up 7 percent, the Nasdaq stock exchange halted trading, and Tesla published a letter to employees from Mr. Musk explaining the rationale for possibly taking the company private. When the shares resumed trading, they continued their climb, ending the day with an 11 percent gain.
The next day, investigators in the San Francisco office of the Securities and Exchange Commission asked Tesla for explanations. Ordinarily, such material information about a public company’s plans is laid out in detail after extensive internal preparation and issued through official channels. Board members, blindsided by the chief executive’s market-moving statement, were angry that they had not been briefed, two people familiar with the matter said. They scrambled to cobble together a public statement trying to defuse a mounting uproar over the seemingly haphazard communication.
That morning, Mr. Musk woke up at home with his girlfriend, the musician known as Grimes, and had an early workout. Then he got in a Tesla Model S and drove himself to the airport. En route, Mr. Musk typed his fateful message.
Am considering taking Tesla private at $420. Funding secured.
— Elon Musk (@elonmusk) August 7, 2018
Mr. Musk has said he saw the tweet as an attempt at transparency. He acknowledged Thursday that no one had seen or reviewed it before he posted it.
. . .
Mr. Musk has said he was referring to a potential investment by Saudi Arabia’s government investment fund. Mr. Musk had extensive talks with representatives of the $250 billion fund about possibly financing a transaction to take Tesla private — maybe even in a manner that would have resulted in the Saudis’ owning most of the company. One of those sessions took place on July 31 at the Tesla factory in the Bay Area, according to a person familiar with the meeting. But the Saudi fund had not committed to provide any cash, two people briefed on the discussions said.
Another possibility under consideration is that SpaceX, Mr. Musk’s rocket company, would help bankroll the Tesla privatization and would take an ownership stake in the carmaker, according to people familiar with the matter.
An hour and 20 minutes after the tweet, with Tesla’s shares up 7 percent, the Nasdaq stock exchange halted trading, and Tesla published a letter to employees from Mr. Musk explaining the rationale for possibly taking the company private. When the shares resumed trading, they continued their climb, ending the day with an 11 percent gain.
The next day, investigators in the San Francisco office of the Securities and Exchange Commission asked Tesla for explanations. Ordinarily, such material information about a public company’s plans is laid out in detail after extensive internal preparation and issued through official channels. Board members, blindsided by the chief executive’s market-moving statement, were angry that they had not been briefed, two people familiar with the matter said. They scrambled to cobble together a public statement trying to defuse a mounting uproar over the seemingly haphazard communication.
Mod: honestly, no, can't do that. There were 20 pages of posts last week before I could even think about creating a new thread, and anyway, virtually all market action at the moment is related to going private. I did split out three threads, about the Saudi human rights stuff, IRAs holding private stocks, and international investor issues. That's the best I could do. --ggr
pz1975
Active Member
Every single negative in the article is attributed to “sources familiar with the matter”. Every one.
Causalien
Prime 8 ball Oracle
So Elon gave them an interview and they quote maybe 4 lines from that interview and the rest is about drug, SEC and the twit according to sources familiar with the matter. This "Source" has more say in an Elon article than Elon.
Sparky
Member
Indeed I do. Every time I hear stuff about E.M. needs to be more this or less that I recall an interview with Marc Tarpenning (co-founder) not long after the difficult Eberhard "departure" (disclosure, I'm a fan of Martin E. and appreciate his insightful advancement of EVs).
Here's Tarpenning about Musk's leadership: circa 2012: [in 2008, ] Elon Musk becomes CEO. "I wish he had done that earlier," said Tarpenning. "Elon was the perfect CEO -- it was bold and out-there."
Whenever, I feel like I'm in a quandary with the ways that E.M.'s steering Tesla, I go back to that comment. It seems to resonate each summer. When Tesla's growth is in the teens or single digits and a stock dividend is in order, he can step back I guess.
I’m wondering one basic question; what is the motivation for possible buy out buyers for them to take Tesla private and pay 420 a share, when they can buy stocks from open markets with cheaper price?
It can’t be future control of Tesla, because Musk has said, he is not going to give anyone control.
Eli 5.
It can’t be future control of Tesla, because Musk has said, he is not going to give anyone control.
Eli 5.
The $420 is for those not wanting to go private, I think potential investors are buying up now. So only $10 BN might be needed to buy them out. However since there is 30bn shorts they will pay this on a short squeeze.
Again; what is their motivation to pay 420? If they are buying now, as you said, what additional value does it give to them to pay 420 of the rest of the shares?
Pras
Member
If you start buying all the shares in open market, you can create inflated price as at some point there won’t be supply. By setting a buyout price new sellers come in orderly way and available shares are then bought
Johan
Ex got M3 in the divorce, waiting for EU Model Y!
Possibly insider trading laws. "Insider trading is the trading of a public company's stock or other securities (such as bonds or stock options) by individuals with access to nonpublic information about the company."
sundaymorning
Active Member
Am I the only one here who hopes we don’t get bought out? With Q3 numbers about 5 weeks away I can see SP doing quite well. Of course if numbers are bad then it would make sense to sell but it’s looking rather good right now. Sure we might take a short term dip if the buyout falls apart but within 2 weeks Tesla could very well reverse as we start seeing profits. Buyout or not it doesn’t matter to me at this point. As long as Elon doesn’t inflict more unwarranted pain on shareholders.
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Johan
Ex got M3 in the divorce, waiting for EU Model Y!
He can, but has to pre-announce his trades and file reports with the SEC. I can guarantee that if he filed a report saying he bought shares shortly before making the tweets about "going private" he would be convicted of insider trading. So he will have to buy between earning reports and other events which will presumably move the stock price significantly.
Insider trading - Wikipedia
RobStark
Well-Known Member
We will definitely have Q3 numbers and maybe even Q4 numbers before there is any buyout.
sundaymorning
Active Member
Elon thinks shorts aren’t “super smart” and that Tesla is good from a “production standpoint”. Although he expects more personal pain (FUD). He was able to do what no other man/woman was able to do with the ramp. Give him props.
Read it about an hour ago and the only thing in there that truly concerns me is his use of Ambien. Continued use of that stuff, especially if you're somewhat depressed, can be wicked... I'm talking from experience. I hope he can find time to visit with his kids and his friends and just unwind so he can get some sleep without that stuff. I know he's under a ton of stress, but that stuff won't help.
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