mekberg
Member
Added another 20% to my position @ $270.
Let the games begin.
Let the games begin.
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Also read the entire complaint and liked your post since their isn't an "Agree"-button.
The SEC does not once state that Elon had the intent of harming investors. Their case is hinged entirely on recklessness = he should have know that behaving the way he did could have harmed investors.
To be clear, the behavior = stating misleading facts or omitting facts that would make the statement misleading.
Typically, in the stock market or anywhere else, the malicious people are a few minority. In case of TSLA, the longs seem to imply that the entire media, analyst community, big hedge funds, sovereign wealth fund and even SEC is malicious. How can so many people be malicious and only a small bunch of retail investors trying to save Earth are righteous? Just doesnt add up.
9kshares+1k calls more? WOW
I'm guessing @emir-t meant $9,000 in shares, right? Not $2,400,000 (9000 x 270) in shares?!?!?
If it is possible to file suit against the SEC for this, I would join it.
Wonderful. At a annual rate of 320,000 total cars, Tesla now has 0.4% share of the auto market. Easily this exceeds a 1% market share just with continuing to ramp up Model 3. Tesla could get there by end of 2019.
End of September is end of financial year for virtually all of the government. There is a very strong "use it or lose it" attitude. See for example: How to Take Advantage of Federal Fiscal Year-End as a Solutions ProviderCNBC newsreader let slip riiight before the presser, that the SEC's end-of-fiscal-year is 30 September, that it sounds cynical but it seemed the SEC was "timing this to justify their existence." Is that true about 30 Sept? If so, is this their way of Window Dressing?
For our part, is it not the time and place to employ some Jiu Jitsu? Use the heightened visibility of pretrial to shine some light on the sus timing of hit pieces and manipu-trades?
I dunno, I'm just a sentient cat with some questions.
I'm having a hard time defending reckless, the whole thing was somewhat reckless. At worst, Musk was incompetent and ill-informed, but I think it's an incredible stretch to suggest he didn't think or care about the consequences (which is part of the legal definition of reckless) and even more of a stretch to prove it. It's well known that he has the highest regard to the people who support and believe in Tesla, and his comments about trying to keep investors involved in the private company, demonstrates that.
Probably already posted, but don't have time to wade through 20 pages at this moment:
SEC Sues Elon Musk for Fraud, Seeks Removal From Tesla
What I find interesting here is that SEC offered a settlement, which Elon refused, hence the action.
So either a) the settlement was unacceptable or b) Elon is innocent of the charge - I believe the latter, but we still need to be dragged though this.
Very clever by the shorts to manipulate the SEC to do this at this moment, they were about to get burned badly - could still happen.
Wonderful. At a annual rate of 320,000 total cars, Tesla now has 0.4% share of the auto market. Easily this exceeds a 1% market share just with continuing to ramp up Model 3. Tesla could get there by end of 2019.
I do think we are crossing a critical market share threshold here. At lower market share, there is the worry that a competitor might want to control Tesla just to suppress it. But at higher market share, this flips. Now a competitor might want to acquire Tesla just to grab the market share potential going forward. For example, VW has about 10% market share of the global auto market. If it were to acquire Tesla is would rapidly expand to 11% market share in 2019. That would be phenomenal growth for the market leader, almost impossible for them to do through organic growth. But longer term, a Tesla acquisition could take VW to 20% market share by 2030. No doubt this would be a very good survival strategy as Chinese EV makers make inroads into the global market. So the value of Tesla at this point is wrapped up in what is worth as an acquisition target, and it's ability to seize market share makes it enormously valuable. It may even be of existential value to competitors such as German automakers.
I bought more stock today and I sent tweets to SEC enforcement stating I do not agree that they are protecting investors with this suit.
I am also sending tweets to ValueAnalyst to retweet to a larger audience in support of Tesla.
I hate Twitter, but it was time to get in the ring and show my support more publicly than here on the boards.
I decided not to sell Tesla shares. I took this decision when I bought them. I do believe in Tesla/Elon mission. I'm here in a good and bad situation. I'm long.
In such moments I'm always going trough my fundamental reasons why I'm here:
1. Mother Earth needs me. The problem of human impact to this planet will not go away. I have to do something.
2. The society have problems with truth, bad people, self interests no matter to the consequences. I have to do something.
3. I'm the warrior as my father before me, as my grandfather before him...we never give up. Why? We never pick up the fight according to the enemy, but according to the holiness we defend. This was laid in my cradle.
Elon had the opportunity to settle down this issue with SEC. If he accept it he would lose his face. He knows that. It would be as he betrayed his basic principle to change what is bad in humanity. He stood with his believes even when this path will be hard for him. I didn't think that he can rise my respect even more, but he did. Elon is true warrior.
I'm preparing ammo for next week. Any suggestion what can I do more?
you called itSo back to market action...any guestimate what the price will open and close at? I’m doing a wire transfer asap in the AM. I can’t really tell but perhaps it’ll be between $260 to $285
Apart from settling, I think Tesla should add two independent directors. The question is, who? I would kinda like to see Jigar Shah on the board. I think he can bring some really good leadership in the Energy space.CNBC reporting that:
- The settlement would have barred Musk as Chairman for 2 years
- Fined Musk and Co.
- Required company 2 new independent directors
- Required Musk neither admit nor deny culpability
I am on Musk his side, but the legal definition of reckless is different than the regular use of the term. I'll let the relevant paragraph from the SEC charge speak for itself. This is their view:
/snip
I'm not saying the SEC is right. I am saying it isn't as crystal clear as some make it out to be.
In Elon's defense, the above is basically a double negative. They say A) Elon did not know enough details about what he suggested and B) He left out that he did not know enough details. You could argue that - by not speaking of details - you are implying you don't know the precise details. (The term "considering" will help this argument, IMHO).
Now let's just sit tight and wait for those damn delivery numbers. They better be fantastic.