TSLA Market Action: 2018 Investor Roundtable

[EarlyAdopter]

Ah no, this: Saudi Arabia’s sovereign wealth fund builds $2bn Tesla stake | Financial Times

Ah ha. So that's who was buying in June.

Sets the precedent for other sovereign wealth funds to buy up some TSLA as well. Where go the Saudis so goes everyone else.

 

[Drax7]

Lets destroy the short position held against 360

 

[ruralectric]

AcquireD or acquiring?
Doesn't make sense to announce if they are still buying. This is about 1/2 day volume, shouldn't make too much of a difference, right?

I believe the significant takeaway is that Elon turned down an offer of a multi-billion dollar infusion of cash so the Saudi's had to go to the secondary market for their investment.

 

[SGordB]

Subtext of the Saudi stake? There's more where that came from should Tesla ever be in a pickle. Sub-subtext: If it's an existential pickle, Tesla may have to choose between surviving and selling a controlling stake to SA. However unlikely the latter may be, the prospect could be enough to account for such a high volume pop, if it's fuelled by alarmed shorts.

 

[jbcarioca]

Saudi fund has previously purchased 3%-5% on the open market...
Reduces float and shows support. (They wanted to buy new shares originally)

Edit: and the SP went up $1/minute for 16 minutes...

This entire story is totally consistent with teh past discussions about the giant Saudi storage and renewables projects. IMHO, the news is not really the share purchase. It's the Saudi position on Tesla as a supplier. We next see Tesla sales and distribution in Saudi.

 

[Unpilot]

looks like a little profit taking now

 

[Starno]

Lets destroy the short position held against 360

I don't know... many people probably are taking some profits

 

[loky]

More then one milion shares in twenty minutes....

 

[jhm]

Ah no, this: Saudi Arabia’s sovereign wealth fund builds $2bn Tesla stake | Financial Times

The Saudis are not speculating on Tesla; they are hedging on Tesla.

 

[Moderatefan]

Past tense.

So, there's no action from them now, they already accumulated some 6m shares then... which I guess reduces the pool of circulating shares if institutions don't let go of their stakes?
From some 104m back in June to 110m(+) held by institutuons out of 170m total?

 

[MartinAustin]

This is the perfect explanation for why Elon knew the stock was going to go up. He was approached and asked to dilute TSLA.

Thus - "your short position will explode in about 3 weeks." He didn't know how long it would take for the SWF to make their announcement, that's all. So it took longer than 3 weeks.

 

[defc0n]

Omg

 

[Unpilot]

Wow a 4 dollar pop in 1 second!

 

[dmunjal]

Elon Musk on Twitter
Am considering taking Tesla private at $420. Funding secured.

 

[wipster]

@elonmusk: Am considering taking Tesla private at $420. Funding secured.

m.twitter.com/elonmusk

 

[sweter]

WAAAAT

 

[LoveTSLA]

Looks like some big short just started exiting...approaching 370.

 

[sweter]

Did he perfectly time this tweet?

Is it gonna happen today?

 

[BLSmith2112]

What does this mean? Been in TSLA for under a year and am not as technically savvy as you guys. Big lurker.

 

[EarlyAdopter]

I don't know... many people probably are taking some profits

I dunno. Look at the volume on that spike. Those are some seriously masive green candles. If anything, I'd think it would establish a new base around $355 and set us up nicely to next take on $360.