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MartinAustin
Active Member
Trading was halted because Elon started tweeting during the trading day. Highly affects the stock.
Ahhh, from the FT (Subscribe to read | Financial Times):
That helped to push shares as much 8.5 per cent higher at the time, extending gains that came in the wake of a Financial Times report that Saudi Arabia’s sovereign wealth fund had taken a stake in the company of between 3 per cent and 5 per cent.
Mr Musk’s tweet caused some confusion. His suggested buyout price of $420 had many followers on the social media platform thinking his message was a joke, as the number is term popular among marijuana smokers.
However, in subsequent responses to questions on the social media platform, Mr Musk tweeted: “Shareholders could either to sell at 420 or hold shares & go private”.
He added: “My hope is *all* current investors remain with Tesla even if we’re private. Would create special purpose fund enabling anyone to stay with Tesla. Already do this with Fidelity’s SpaceX investment.”
Mr Musk also said he was “super appreciative of Tesla shareholders” and “Will ensure their prosperity in any scenario”.
Mr Musk’s tweet caused some confusion. His suggested buyout price of $420 had many followers on the social media platform thinking his message was a joke, as the number is term popular among marijuana smokers.
However, in subsequent responses to questions on the social media platform, Mr Musk tweeted: “Shareholders could either to sell at 420 or hold shares & go private”.
He added: “My hope is *all* current investors remain with Tesla even if we’re private. Would create special purpose fund enabling anyone to stay with Tesla. Already do this with Fidelity’s SpaceX investment.”
Mr Musk also said he was “super appreciative of Tesla shareholders” and “Will ensure their prosperity in any scenario”.
It is with a hint of schadenfreude that I have to break it to you, you're more screwed than you seem to think. The problem (for you) is that there are more shares of TSLA outstanding than there are in the market cap. You're still going to have to buy-to-close, in a market with a lot less liquidity than it currently has. It is entirely possible that the market price goes higher than $420 before the deal settles, and there's no guarantee that the deal will happen at only $420 either... I still expect it to go higher.
ZachF
Active Member
Some video footage from inside Shortsville:
Long time ago Elon hinted to have a special fund so investors can stay in this private company. I was buying shares like mad but suddenly the third batch couldn't go through.
I think Elon is serious about taking it private. We will vote on it. Longs can stay as private investors. This is the best case for me. Now the question is how to get more shares before the vote. I wouldn't hesitate to buy more at $800 so I can get more private shares.
I think Elon is serious about taking it private. We will vote on it. Longs can stay as private investors. This is the best case for me. Now the question is how to get more shares before the vote. I wouldn't hesitate to buy more at $800 so I can get more private shares.
ruralectric
Member
My take on this: If you are participating in a "fully paid" lending program (i.e you own your shares, no margin) then your contract is with your broker not with whomever they loaned the shares to. Your broker is obligated to return your shares. The only way you would lose is if the broker went under, in which case you would only receive the collateral the brokerage has set aside and you would miss out on any gains in share price beyond what they'd provided collateral. I can't speak to how it works for margin accounts.
Would someone else like to chime in and correct me if I'm mistaken?
I guess this affects my holdings within a Canadian TFSA and RRSP. Going to have to take those as cash if this goes through.
Toolsmack
Member
Buy at $367, sell at $3,000 after short burn, buy back at $500?
Not advice......more like a dream
Maybe I am just a desperate short.....but my spidey senses are tingling that this whole thing is total BS
Early congrats to you longs if it is real
Early congrats to you longs if it is real
Mark Spiegel's Twitter account went silent. I guess he has more pressing things on his mind than FUD production.
Bet TSLA
Active Member
Much depends on the price when trading restarts. Could be around $420 if Musk's "considering" turns into certainty.
MartinAustin
Active Member
CNBC had Jeffrey Sonnenfeld - who is a current work colleague of Jim Chanos at Yale - on the channel right now, trying to throw shade on this going private thing.
He is getting his math wrong. He is thinking the transaction is going to require $80 billion and wonders where that is going to come from.
Colin Rusch pointed out about half an hour ago on the same channel that a great deal less money is required to effect the transaction, if current shareholders like me) come along for the ride and are brought into the "special fund."
But of course, Jeffrey Sonnenfeld will do his best to ignore that.
He is getting his math wrong. He is thinking the transaction is going to require $80 billion and wonders where that is going to come from.
Colin Rusch pointed out about half an hour ago on the same channel that a great deal less money is required to effect the transaction, if current shareholders like me) come along for the ride and are brought into the "special fund."
But of course, Jeffrey Sonnenfeld will do his best to ignore that.
I've only had my shares bought out once. It was 3PAR in 2010. This feels nothing like it. Instead of an offer we get a Tweet. "Considering"? If EM is serious, he should be prepared. I am concerned and really hope it was not a spontaneous attempt at ruining Short's day. Also not happy to sell at $420 at all.
you bet your @$$ we’re all staying
That’s okay. Let the shorts keep doubling and tripling down. Makes for a great show!
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