jelloslug
Active Member
His purchase was a drop in the bucket compared to today's volume.
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There has been nearly 9million shares traded. Elon's buy may have helped some but 33k shares isn't going to impact stock price much w/ current volume.
33000 shares out of what looks to be about 9 million today... 1/3% of daily volume.
Edit: wow you guys are fast.
Edit^2: Hmmm... need a new moderator... hmmm.
kingjamez
Member
With volume at 8.33M as of right now.. it affected it, but not solely responsible.
edit: got beat!
i guess it's going to be seen as either confident or desperate. longs are going to buy because of this and shorts are going to increase their short position. no idea if it's going to be a net positive or net negative for the stock market in the coming days.
The Blue Owl
Endangerous Herbivore
kingjamez
Member
Still weird that Elon was tweeting about the stock price before he was about to buy 33k shares.
Perhaps it was an effort to dissuade insider trading accusations in that he tried to pump the stock price before he bought just to look "clean".
Perhaps it was an effort to dissuade insider trading accusations in that he tried to pump the stock price before he bought just to look "clean".
⚡️ELECTROMAN⚡️
Village Idiot
for sure. he couldn't have done it the other way round. All in all he wants clearly give investors and employees (who hold options) confidence with both moves.
CEO buying $10M in stock is hugely bullish. Bears can try to spin it how they want, but they would be a lot happier if he had just sold 33,000 shares instead of bought them.
Hey, maybe he’s trying to get those last 6.5 million shares available to short and the huge numbers he was talking about were his planned stock purchases.
Hey, maybe he’s trying to get those last 6.5 million shares available to short and the huge numbers he was talking about were his planned stock purchases.
Have a look at the prices, definitely a message. 295,296,297,298,299,300,301,302That he just got his tax refund and he's putting that money into good use
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Esme Es Mejor
Member
In the interview I saw, he didn’t say anything negative [In fact, he said, “I’ve never said anything negative”] The interviewer was desperately trying to bait him into saying something negative, but he stayed neutral/positive and focused on moats & candy.
Here’s a link:
Warren Buffett: 'I salute' Elon Musk for trying to improve a product
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I remember Elon bought the stock around $90 in 2013, and around $120 in early 2016. In both cases, the stock quickly doubled after his purchase.
The Blue Owl
Endangerous Herbivore
I knew I'd read something today that made me include Buffett on the list, but now that I tracked it down, I'll agree it's somewhat vague. It was this phrase at the end of this WSJ article:
But Mr. Buffett also couldn’t help bringing up the latest Tesla headlines, saying he heard Mr. Musk has to raise some money.
So no, he didn't say Tesla was in trouble, but given Mr Buffett's propensity to understatement, maybe it could be read that way. OTOH, the article doesn't directly quote him, so this as a source for my original statement is pretty weak. I am retracting it.
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The message was muddled. The proxy shows Elon has vested and un-exercised options for 4.2 million shares with an exercise strike price of $31.17. These transactions were almost 10x more expensive. All of Elon's prior purchases were when TSLA sold additional common shares in follow-on offerings. It's un-clear if the prior purchases (after May, 2011) were to maintain his relative percentage minority ownership position or as an accommodation to the Investment Banks to help them market the issue. Probably a bit of both.
In bear country, there has been speculation that Elon may have to put up additional collateral for his draws against the IBs' banking affiliates' personal credit lines extended to him. Normally, when a CEO buys on the open market it's bullish. Who knows? Either way, I closed out short naked put position until the situation clarifies. As Elon said: "If you can't stand the volatility, get out."
One example here, from May 2013: Elon Musk Is Borrowing Another $150 Million From Goldman Sachs To Buy More Tesla Stock
Tesla - Current Report
Mike Smith
Active Member
There's no reason to think Musk's purchase is a one day event. He could buy $10M per day for the next month. SpaceX just went way up in value so he has plenty of room to borrow. I don't think there's any big news to announce, he's just confident Model 3 is on track.
You make a great point. He could literally buy up all available shares that have potential to be shorted. Can’t say he didn’t warn you. Would be awesome for us Bulls!
Oh snap! Is he dropping an analogy bomb related to his statements regarding pending launch of Tesla's market cap? Those that shorted get hurt bad, those that didn't hold stock are left saddened.
Edit: Then he tweeted a link to this: https://en.m.wikipedia.org/wiki/Rococo
So who ever knows...
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