TSLA Market Action: 2018 Investor Roundtable

[neroden]

Accounting Irregularities detected by CFO that was in place for only 1 month. He resigned in written formal letter to the Board on Tuesday. 8K filed today.

If the acocunting irregularties are too high - Tesla will need to fill for Chapter 11 - Bankruptcy. TESLAQ is not that far away anymore after this news. I am wondering what the irregularities are - but they have to be significant if he is resigning immediately.

Don't spread lies. "Liesetter". You're reported (for malicious libel) and blocked now.

I just read the 8-K and this is Morton's statement:

"Since I joined Tesla on August 6th, the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations. As a result, this caused me to reconsider my future. I want to be clear that I believe strongly in Tesla, its mission, and its future prospects, and I have no disagreements with Tesla's leadership or its financial reporting."

So Morton blames two things:
1 -- the nasty media spotlight and disinformation campaign. Morton doesn't want his every action twisted in the media the way Musk's every action is twisted. This unfortunately could actually be making it harder to hire people at Tesla.
2 -- the culture of overwork at Tesla. We knew this was a problem; it's definitely causing good people to leave Tesla.

What we do know is that Tesla's accounting is fine, 'cause he said so in an official statement.

 

[mongo]

Stop you bullshit ....

It’s not the CFO and in the story they is NO mention of accounting irregularities.

On top of that, if Tesla was in that situation, they would take the private funding regardless of what shareholders want...

 

[j6Lpi429@3j]

NO BUYING HERE. Wait for news. Might go bankrupt today or next week.

CAO knows something (accounting is irregular - SEC is investigating officially).

This is insane. They are not going bankrupt. people like you thought they would go bankrupt before the model S. You might WANT it to happen, but that doesn't mean it will happen. Take a look at the EV sales charts, then abandon your obvious short position, and then go and lie down.

 

[Yggdrasill]

I rarely agree with calls for banning someone, but banning Truthsetter seems like a no-brainer.

 

[KarenRei]

Accounting Irregularities detected by CFO that was in place for only 1 month. He resigned in written formal letter to the Board on Tuesday. 8K filed today.

If the acocunting irregularties are too high - Tesla will need to fill for Chapter 11 - Bankruptcy. TESLAQ is not that far away anymore after this news. I am wondering what the irregularities are - but they have to be significant if he is resigning immediately.

Why are we letting people promote transparently false FUD here in this thread - a single time, let alone writing the same FUD over and over every couple minutes?

For those who care:

“Since I joined Tesla on August 6th, the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations,” Dave Morton, a former CFO for computer-drive maker Seagate Technology Plc, said in a Tesla regulatory filing. “This caused me to reconsider my future. I want to be clear that I believe strongly in Tesla, its mission, and its future prospects, and I have no disagreements with Tesla’s leadership or its financial reporting.”

 

[bhtooefr]

Moderation staff: request to make sure that Truthsetter cannot edit or delete their posts before banning them. Tesla may want them unmodified as evidence of stock bashing after all.

 

[Truthsetter]

This is insane. They are not going bankrupt. people like you thought they would go bankrupt before the model S. You might WANT it to happen, but that doesn't mean it will happen. Take a look at the EV sales charts, then abandon your obvious short position, and then go and lie down.

I am holding 2'500 shares with an average price of 320$. Do you think I am happy? I want this *sugar* to stop - immediately. I cant stand Elon anymore - seriiously.

 

[Truthsetter]

Does Elon now also will officially take care of the Accounting of Tesla? He is so underworked I am sure he has time.

 

[neroden]

Why are we letting people promote transparently false FUD here in this thread - a single time, let alone writing the same FUD over and over every couple minutes?

For those who care:

“Since I joined Tesla on August 6th, the level of public attention placed on the company, as well as the pace within the company, have exceeded my expectations,” Dave Morton, a former CFO for computer-drive maker Seagate Technology Plc, said in a Tesla regulatory filing. “This caused me to reconsider my future. I want to be clear that I believe strongly in Tesla, its mission, and its future prospects, and I have no disagreements with Tesla’s leadership or its financial reporting.”

Note that Morton wasn't required to include that line. He did so voluntarily.

 

[neroden]

Moderation staff: request to make sure that Truthsetter cannot edit or delete their posts before banning them. Tesla may want them unmodified as evidence of stock bashing after all.

Agreed.

 

[bro1999]

I rarely agree with calls for banning someone, but banning Truthsetter seems like a no-brainer.

I've found on internet forums, when someone has "truth" as part of their user name, they are anything but truthful. Sorta like countries with the word "Democratic" in their names (Democratic Peoples' Republic of Congo, Democratic Peoples' Republic of Korea) are anything but.

 

[mutle]

Most shorts are smart enough to set the timeframe for their bankruptcy predictions at 3-6 months, that way almost everyone has already forgotten by the end of the timeframe and the short won’t be held accountable for their wrong predictions.

 

[shortburn]

Pretty sharp sell-off... This sucks...

 

[gtrplyr1]

I am holding 2'500 shares with an average price of 320$. Do you think I am happy? I want this *sugar* to stop - immediately. I cant stand Elon anymore - seriiously.

If you really cared you would not be posting such inaccurate statements.

Either you really are a shareholder and maybe you are just a moron or you are a short ...

Either way ... just F off.

 

[humbaba]

He def needs to recharge somehow... BUT, overall I was actually encouraged by the interview. There are lots of instances of his outside the box brilliance. He's transparent, and honest, and admitted mistakes on Twitter. To many he will have come over as super-likable-for-a-genius. It's clear the last year has been hell. A year to match 2008. But his deep passion for Tesla, and the desire to create machines people fall in love with, came over loud and clear. The weed hit, and conversation after it actually increased my confidence that this is not a meaningful part of his life. I think that will be storm in a teacup. Much more important is that he lets go of the twitter temper tantrums, and from the sound of this, he's committed to trying to do that. As for the comment about how hard it is to keep a car company alive. I truly don't think he'd be saying that if didn't believe he's past the worst. Remember, he was only going to do this interview when Model 3 prod problems solved. Stock will initially drop today, but I predict we may be near the low...

I would've thought that too, but *damn* the pre-market trading is brutal

 

[Ellec]

"I have no disagreements with #Tesla's leadership or its financial reporting."

So basically he was meant to be CAO of a private Tesla but staying public so he's gone.

 

[Mike117]

Next support seems 235$? Will buy puts at open

 

[W84M3]

Sub $260 now.

Bargain of the century? That's it, I'm buying again.

 

[Mike117]

Sub $260 now.

Bargain of the century? That's it, I'm buying again.

Don't buy now, might fall to 235

 

[Boomer19]

Stock is down to 250$. Tesla may fill for bankcruptcy before Q3 figures.

pipe down troll, unless you have something meaningful to add