Then, I'm sure, they must have sent thousands to jail over the 2008 Trillion dollar fraud ? ps : Infact, the upheaval in both parties can be traced directly to inaction on the part of SEC & DOJ to meaningfully prosecute the culprits for 2008 meltdown.
back to market action..... I am expecting shorts to cover some in the pre-market so the up-tick rule will not take effect. I ask those that really wish to buy (like myself) to wait for the market to open so hopefully we open more than 10% down.
Indeed, I read 4 million shares traded after hours. Given the speed of the initial drop, I wonder how many of those are now in long terms hands. Slight recovery tomorrow, cool off over the weekend, then delivery numbers... May you live in exciting interesting times....
i see some chomping at the bit to jump in tomorrow. clearly not an expert but i think before jumping in it’s prob wise to let the fallout of at least some regular trading occur to see what’s what. im not optimistic about the near term bounce back here. too much left to unfold. thoughts?
Having done this thankless job for years on MNL - let me say in defense of mods, this is hardly as easy job.
also, @Fact Checking the breaker didn’t trip..can it trip in AH trading?. i assumed it could if so, that means that longs were dumping, correct?
Yes, and all the other para's discussing his actions about taking the company private. Obviously he was sincere and acting in good faith.
I wish they did. Believe me, we are on the same page there. What banks and related parties did in 2008 reflects poorly on where we stand as a nation.
There are likely some institutions who have policies about investing in companies where the CEO is being sued by the government. They are likely to provide some downward pressure tomorrow.
Looks like the entire circuit-breaker system does not extend to after-hours, per After-hours trades still risky, a decade later.
I would guess that volume is too high for that kind of control from shorts. It's almost certainly going to be triggered immediately.
I think it has to do with the funding secured part - implying that a takeover bid had already transpired. In hindsight It clearly did not, as no buyer was ever found. Given musk's outspoken disdain for short sellers, a real case can be made for trying to goose the price by releasing false news. As for my history about the SEC act of 1934, feel free to correct me if I am wrong recounting any facts there.
Some big holders will be looking to exit. There are funds which have in their disclosures that they cannot invest in companies under investigations. Would probsbly apply to CEOs as well. So I would expect some significant selling. Maybe not directly tomorrow but it’s going to happen.
I’m not going to go back and read the pros and blows, but just encourage long term investors to call bullshisle and go to sec enforcement on twitter. Elon may have made a mistake, regardless, we long term people did not invest in Elon Wall Street business man. We invested in the visionary agent of change. I didn’t see anyone from TMC respond on twitter yet. Their should be 1000 replies by now. Get cracking fanboys! SEC Enforcement on Twitter
There are no breakers in the after hours. Or even I believe In the last 30 minutes of the regular hours. Stay frosty.
Elon did not play into the trap; he sprung this trap, courageously. Nobody was ever, never going to be allowed to separate the good'ol USA from fossil fools. Not Elon, not Al Gore, not nobody. And we aren't paying full price now either; our grandchildren will however. And their descendants for the next 80 generations as the seas and the storms continue to rise. That's the fight. Keep your money. This is about a livable future for humanity.