TSLA Market Action: 2018 Investor Roundtable

[jhm]

You can call bull if you want, I didn't supply a source. Here it is:

Report: Tesla was under SEC investigation over Model 3

with the relevant portion as follows:

SEC documents show the commission started investigating Tesla because it believed the company might have been “making false statements of material fact or failing to disclose material facts concerning the company’s Model 3 vehicle.”

Tesla was ordered to produce company documents related to Model 3 reservations, cancellations, and deposits, including how Tesla had used or planned to use the deposit money. The SEC also demanded names and credit card numbers of customers who pre-ordered Model 3s.

MOST IMPORTANTLY:
The SEC investigation into the company ended with no enforcement action taken.

I think PermitPatti called this one in.

Seems pretty frivolous to me. The auditors should be doing entity testing if there was any materiality here.

FYI, https://www.theroot.com/permitpatty-white-woman-calls-police-on-8-year-old-gi-1827075905

 

[ggr]

That's a six-month-old closed investigation. Suddenly people are talking about some new, current, SEC investigation. I still see no evidence of that.

Interestingly, when Tesla first opened orders for the Model 3, there were articles from bears saying things like "These numbers are bull, because I ordered 30 of them", to which Tesla responded by cancelling all orders from people who ordered more than two. But that was more than two years ago. I'm still surprised if the SEC really did request such data.

 

[YasB]

Report: Tesla was under SEC investigation over Model 3
[...]
MOST IMPORTANTLY:
The SEC investigation into the company ended with no enforcement action taken.

I think that articles in the detroit news is based on information gathered by probesreporter. According to those guys there is another ongoing investigation ... not sure what to make of that or how trustworthy they are. They basically seem to ask for information under the FOIA and parse whatever comes back.

https://probesreporter.com/sites/default/files/uploads/documents/TSLA 2018-0208.pdf

Probes Reporter® on Twitter

 

[sundaymorning]

You can call bull if you want, I didn't supply a source. Here it is:

Report: Tesla was under SEC investigation over Model 3

with the relevant portion as follows:

SEC documents show the commission started investigating Tesla because it believed the company might have been “making false statements of material fact or failing to disclose material facts concerning the company’s Model 3 vehicle.”

Tesla was ordered to produce company documents related to Model 3 reservations, cancellations, and deposits, including how Tesla had used or planned to use the deposit money. The SEC also demanded names and credit card numbers of customers who pre-ordered Model 3s.

MOST IMPORTANTLY:
The SEC investigation into the company ended with no enforcement action taken.

In regards to another ongoing investigation, whether or not if it’s true, bears will have a field day spinning this one. The media will on be on the prowl the next few days, during this quiet period can Tesla IR make a statement?

That's a six-month-old closed investigation. Suddenly people are talking about some new, current, SEC investigation. I still see no evidence of that.

Interestingly, when Tesla first opened orders for the Model 3, there were articles from bears saying things like "These numbers are bull, because I ordered 30 of them", to which Tesla responded by cancelling all orders from people who ordered more than two. But that was more than two years ago. I'm still surprised if the SEC really did request such data.

It’s hard to believe, but I think these guys would be sued for libel if untrue. I think it’s very possible they were investigated, as scty was also investigated.

 

[dc_h]

Standard Chanos playbook (Refer to Jesse's excellent thread). However, Elon is a lot smarter and has a lot more firepower on social media. In other words, they are out smarted and out gunned.

Elon May want to just share his numbers with the sec and go public, after June deliveries, production and the expected July deliveries are announced. Eliminate all the bs memes at the same time.

 

[Unpilot]

Nice rebound of the SP after the MMD.

 

[Chocochip]

Nice rebound of the SP after the MMD.

You call that a dip, I call it a sinkhole. Glad to be on the other side of it!

 

[TheMrX]

You call that a dip, I call it a sinkhole. Glad to be on the other side of it!

I'm sorry, what did you just said?

 

[mongo]

Hummm, volume increase along with SP... Did I miss some news?

 

[Unpilot]

Yeah I did not see anything...but I like the trend!

 

[TrendTrader007]

007‏ @TrendTrader007


$TSLA STRONG STRONG STRONG FILLED 1000 @ $339

 

[MartinAustin]

Hummm, volume increase along with SP... Did I miss some news?

Phil LeBeau does not think the jump in the stock has anything to do with Elon's recent tweets about Tesla Pickup Truck, but I personally would put it down to exactly that.

 

[mongo]

Phil LeBeau does not think the jump in the stock has anything to do with Elon's recent tweets about Tesla Pickup Truck, but I personally would put it down to exactly that.

(Facepalm) guess what I read before looking at TSLA...

 

[Yggdrasill]

Phil LeBeau does not think the jump in the stock has anything to do with Elon's recent tweets about Tesla Pickup Truck, but I personally would put it down to exactly that.

Timing seems consistent with that, yes.

Though at this point in time the Pickup doesn't really matter. Tesla has more than enough products in the pipeline.

 

[lklundin]

You can call bull if you want, I didn't supply a source. Here it is:

Report: Tesla was under SEC investigation over Model 3

with the relevant portion as follows:

SEC documents show the commission started investigating Tesla because it believed the company might have been “making false statements of material fact or failing to disclose material facts concerning the company’s Model 3 vehicle.”

Tesla was ordered to produce company documents related to Model 3 reservations, cancellations, and deposits, including how Tesla had used or planned to use the deposit money. The SEC also demanded names and credit card numbers of customers who pre-ordered Model 3s.

MOST IMPORTANTLY:
The SEC investigation into the company ended with no enforcement action taken.

Considering the cited source, I think critical reading is in order - especially since the reservation payment was (and is) refundable and was (and is) received with no specific deadline for a service rendered in exchange for the payment.

Sure, as a federal agency the SEC can both 'order' and 'demand' all the want. Maybe someone here can cite the relevant laws, but until that happens I can imagine that Tesla in receipt of anything other than a 'subpoena' could just file SEC's letters in the waste paper bin.

I look forward to becoming more knowledgeable of the SEC's powers.

 

[mershaw2001]

Considering the cited source, I think critical reading is in order - especially since the reservation payment was (and is) refundable and was (and is) received with no specific deadline for a service rendered in exchange for the payment.

Sure, as a federal agency the SEC can both 'order' and 'demand' all the want. Maybe someone here can cite the relevant laws, but until that happens I can imagine that Tesla in receipt of anything other than a 'subpoena' could just file SEC's letters in the waste paper bin.

I look forward to becoming more knowledgeable of the SEC's powers.

I think the wording of "asked Tesla" might be misleading- according to probesreport they did "subpoena".
(source: https://probesreporter.com/sites/default/files/uploads/documents/DI - TSLA 2017-1214.pdf)
In a subpoena dated 15-Jun-2016, the SEC asked Tesla to produce documents related to the following: reservations
for the Model 3; orders; production times and rates; cancellations; refunds requested; refunds processed;
revisions in reservations; how deposits for the Model 3 have or will be used by Tesla; the company’s accounting treatment for deposits; and, questions related to the 18-May-2016 offering and analyst report issued by Goldman Sachs. The 15 pages of records we obtained on this
investigation are posted to our website.

EDIT: I didn't look at the actual documents probesreport posted to their website because that would cost money.

 

[Causalien]

I logged in yesterday to take advantage of the lower stock price. But the volatility premium of TSLA options scared me away.

It used to be that the market does not factor in the end of quarter release as anything that's going to cause volatility, but apparently, they are really thinking that this one will be a significant one.

 

[sundaymorning]

Phil LeBeau does not think the jump in the stock has anything to do with Elon's recent tweets about Tesla Pickup Truck, but I personally would put it down to exactly that.

Can you link us to that tweet by Elon?

 

[sundaymorning]

Holy smokes:

Tesla Model S That Caught Fire in Florida Hit Speed of 116 MPH

Good move by Tesla to implement max speed on its APP.

 

[mongo]

Can you link us to that tweet by Elon?

Elon Musk on Twitter

Elon Musk on Twitter