shrspeedblade
Rideshare Monkey
An important point is that this settlement and its requirements will probably make the institutional investors happy, which is probably a good thing for the time being.
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Just so disappointed in how this is all turning out. Wall Streeters have been out for blood ever since they were snubbed on the last earnings call, and Elon’s figurative “F You” by saying he didn’t need them for a capital raise. So who are the harmed investors? I’m guessing SEC will say it’s only the shorts. Us longs were only harmed when the SEC announced their (frivolous in my opinion) lawsuit. So $40M goes to those who wanted Tesla to fail, and $0 to those of us who have believed in Tesla and invested in the company but lost 13% in stock value after the SEC lawsuit announcement. I used to think short sellers weren’t that big of a deal until I read this excellent post by jesselivenomore
Elon Musk vs. Short sellers (and eventually Matt Tiabbi’s whole book The Divide )
Unbelievable what Wall Street traders get away with.
Having said that, giving up the Chairmanship doesn’t seem like that big of a deal. For example, Tim Cook is not the Chairman of Apple, only CEO. Arthur Levinson is Chairman.
Elon Musk vs. Short sellers (and eventually Matt Tiabbi’s whole book The Divide )
Unbelievable what Wall Street traders get away with.
Having said that, giving up the Chairmanship doesn’t seem like that big of a deal. For example, Tim Cook is not the Chairman of Apple, only CEO. Arthur Levinson is Chairman.
engle
Member
dmckinstry, I believe shareholders always get to vote on directors. That's basically all we get to do, besides attend the annual meeting and perhaps get to ask a question.
I am thrilled with this settlement!!! I think the huge ~14% hit long investors took on Friday compelled the SEC to give Elon basically a slap on the wrist over the weekend to "protect" us shareholders.
The timing is excellent for us longs! I predict $TSLA will recover 50%+ on Monday, then spike up again after the Q3 delivery numbers come out soon thereafter. I think we will be higher than $307.46 again by October 12th, 2018.
As long as there's no surprise from the DOJ, I think the stock will set an all-time high by the end of Q4.
I am thrilled with this settlement!!! I think the huge ~14% hit long investors took on Friday compelled the SEC to give Elon basically a slap on the wrist over the weekend to "protect" us shareholders.
The timing is excellent for us longs! I predict $TSLA will recover 50%+ on Monday, then spike up again after the Q3 delivery numbers come out soon thereafter. I think we will be higher than $307.46 again by October 12th, 2018.
As long as there's no surprise from the DOJ, I think the stock will set an all-time high by the end of Q4.
I'm talking about SEC's lawsuit. I'm sure there are Other investor suits Tesla has to deal with but they aren't that bad in the scheme of things.
mblakele
FSD Beta (99)
I think this will go by NASDAQ's rules. They seem pretty lenient to me. The board is already supposed to be majority-independent for its NASDAQ listing. Right according to Board of Directors | Tesla, Inc. there are nine directors, so at least five ought to be independent already.
http://nasdaq.cchwallstreet.com/nas...p_1_1_4/chp_1_1_4_3/chp_1_1_4_3_8/default.asp
(2) "Independent Director" means a person other than an Executive Officer or employee of the Company or any other individual having a relationship which, in the opinion of the Company's board of directors, would interfere with the exercise of independent judgment in carrying out the responsibilities of a director. For purposes of this rule, "Family Member" means a person's spouse, parents, children and siblings, whether by blood, marriage or adoption, or anyone residing in such person's home. The following persons shall not be considered independent:
(A) a director who is, or at any time during the past three years was, employed by the Company;
(B) a director who accepted or who has a Family Member who accepted any compensation from the Company in excess of $120,000 during any period of twelve consecutive months within the three years preceding the determination of independence, other than the following:
(i) compensation for board or board committee service;
(ii) compensation paid to a Family Member who is an employee (other than an Executive Officer) of the Company; or
(iii) benefits under a tax-qualified retirement plan, or non-discretionary compensation.
[...]
(A) a director who is, or at any time during the past three years was, employed by the Company;
(B) a director who accepted or who has a Family Member who accepted any compensation from the Company in excess of $120,000 during any period of twelve consecutive months within the three years preceding the determination of independence, other than the following:
(i) compensation for board or board committee service;
(ii) compensation paid to a Family Member who is an employee (other than an Executive Officer) of the Company; or
(iii) benefits under a tax-qualified retirement plan, or non-discretionary compensation.
[...]
Seeking Alpha shorts are LIVID over the settlement.
So that should make us happy.
Seriously.
They have been wanting to use this bull *sugar* as ammunition against Tesla for the next year.
Their next hail mary throw is hoping the DOJ throws Musk into prison. Not credible.
Hope Tesla waits till Tuesday morning to release Q3 deliveries.
From the actual settlement: SEC vs Tesla Settlement
So they only have to add two members total. (Either the Chairman and a director, or they can promote an existing director to Chairman and add two new directors.)
TrendTrader007
Active Member
Believe me $40 million settlement that $TSLA Shorts will get from SEC settlement will be chump change in comparison to the billions the are about to lose once SP gaps up and starts an epic run next week
I personally lost millions over the last 2 months but I’m not suing EM or Tesla or shorts or anybody
Just the fact that investors like me have the courage of their convictions to never give up on EM or $TSLA will bring back the money we lost plus more
Losers whine and complain and sue and blame others or their losss
Winners do what it takes
You can still clean the couch, I'm sure your significant other would like it...
Here is a summary of what we know:
If that is really the case I think Elon did the right thing, he sped up the process of resolving the entire situation instead of just his personal part of it.
- Elon refused to settle Thursday.
- Elon settled sometime yesterday.
- Tesla was charged, and settled, today.
If that is really the case I think Elon did the right thing, he sped up the process of resolving the entire situation instead of just his personal part of it.
EVNow
Well-Known Member
This is really bad.
I didn't buy enough yesterday. I was hoping I can pickup more on Monday. Can we buy calls in the pre-market ?
ps : Not funny ! Its a serious question. Tesla keeps interrupting my financial plans.
- First the privatization (I decided to move money to buy TSLA, bought some stock.)
- Second, no privatization. This sent SP on a tailspin. I bought some stock & calls down & up at various price points.
- Third, because of expected good delivery numbers decided to buy some calls. Then, the SP suddenly jumped up. Still bought a few calls.
- Fourth, SEC filed a case, plunging the market. So, bought some calls/stock. But only 10% of what I wanted, hoping to do the rest on Monday.
- Fifth, SEC settles the case. This will make the stock open at $290+ on Monday. Sigh. All I want is to buy enough calls to retire.
I didn't buy enough yesterday. I was hoping I can pickup more on Monday. Can we buy calls in the pre-market ?
ps : Not funny ! Its a serious question. Tesla keeps interrupting my financial plans.
- First the privatization (I decided to move money to buy TSLA, bought some stock.)
- Second, no privatization. This sent SP on a tailspin. I bought some stock & calls down & up at various price points.
- Third, because of expected good delivery numbers decided to buy some calls. Then, the SP suddenly jumped up. Still bought a few calls.
- Fourth, SEC filed a case, plunging the market. So, bought some calls/stock. But only 10% of what I wanted, hoping to do the rest on Monday.
- Fifth, SEC settles the case. This will make the stock open at $290+ on Monday. Sigh. All I want is to buy enough calls to retire.
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Nope it clearly says it can be one independent director and an independent Chairman.
Fact Checking
Well-Known Member
I don't think so: according to S3 Partners shorts increased positions on Friday, they didn't take profits on Friday as an aggregate, and now if the stock gaps up they lose those paper gains and then some.
I think shorts were waiting for the circuit breaker to expire, to sell short aggressively again.
The SEC cloud kept out a lot of investors, it's good to have that over with - even though I think Elon could have won the lawsuit. The settlement should reverse not only Friday's losses, but also removes the SEC uncertainty that existed before Thursday.
Elon only has to pre-approve tweets that contain material information - but that's a common sense thing to do anyway. 95% of his tweets do not contain material information to Tesla.
The shorts are still going to lie, but that's nothing new.
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TrendTrader007
Active Member
Ludalicious
Active Member
I am long for Tesla. I wouldnt short a product believe in and love. Kinda goes against the rules I know. LOL I would love to see them succeed. Apple, Weed sector ect. I could really care less if any of those products succeed. LOL if that makers any sense.
I'm trying to estimate the upside to the stock price on Monday/Tuesday.
The stock was already somewhat depressed because of a widespread worry about SEC action. Then it dropped $42 when that fear was realized. It should go back up that amount because of the settlement. Then, of course, the worry has also gone away. That's maybe another $20. Say $320 is believable. Then before market open Tuesday (maybe Monday, if I were Tesla, I'd be aiming for that) confirmation of really good deliveries, that might be another $20. Also Tuesday morning, a lot of small, weak shorts will get margin calls and have to cover. I won't call it a short squeeze, but another $10 takes it to $350 Tuesday evening.
The stock was already somewhat depressed because of a widespread worry about SEC action. Then it dropped $42 when that fear was realized. It should go back up that amount because of the settlement. Then, of course, the worry has also gone away. That's maybe another $20. Say $320 is believable. Then before market open Tuesday (maybe Monday, if I were Tesla, I'd be aiming for that) confirmation of really good deliveries, that might be another $20. Also Tuesday morning, a lot of small, weak shorts will get margin calls and have to cover. I won't call it a short squeeze, but another $10 takes it to $350 Tuesday evening.
TrendTrader007
Active Member
Krugerrand
Meow
That’s pure unadulterated wishful thinking. The SP has NEVER fully recovered immediately following a one day pounding like it took on Friday. It’s always taken several days, if not weeks to recoup.
In your favor is that shorts can’t short on Monday and Tesla might announce quarter numbers. But even with those two, it would literally be a miracle never seen before if the SP climbs to its Thursday close on Monday.
And $290 doesn’t cut it. It has to recover $42.75.
Adding: nothing has changed in the minds of those controlling the SP other than they get to gloat some more. When Elon apologized to analysts the SP moderately rose, but when he pissed off those analysts and the media went crazy the SP took a bigger kick. This has always been the way. There’s no reason to think the trend changes.
We get a downgrade; the SP gets kicked
We get an upgrade; the SP yawns
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