That day Elon Musk almost certainly committed a felony... (yesterday)

[Blackjack200]

It’s this tweet. https://twitter.com/elonmusk/status/1026894228541071360?s=12

It caused TSLA shares to jump and then trading was halted. Best case scenario is that the tweet is exactly true, there’s a group of investors who are willing to take the firm private at $420.

But... this just doesn’t fit the profile of a company that would go private. It’s market valuation is seen as quite high, it has loads of debt, it has production problems and its CEO has exhibited some erratic behavior recently. So, it would be stock price manipulation, and a manipulation that could easily be viewed as malicious since Elon constantly complains about shorts.

I think this is about to unravel, and Elon Musk might be headed for prison.

 

[Zorba]

I'm not going to hold my breath on him going to prison, but I call BS on going private. The biggest asset the company has is its stock price and the ability to sell seemingly endless amount of it. If they go private they will be saddled with even more debt and lose the easy capital gravy train.

 

[Blackjack200]

I'm not going to hold my breath on him going to prison, but I call BS on going private. The biggest asset the company has is its stock price and the ability to sell seemingly endless amount of it. If they go private they will be saddled with even more debt and lose the easy capital gravy train.

I’ve heard investor losses were in the billions. If he made it up, how can that not be securities fraud? I mean, if the SEC actually does anything about it is another question, but there will almost certainly be a class action suit against Elon and the firm.

 

[NostaSeronx]

I doubt Musk will go to jail, SEC was forewarned his twitter might divulge info. If it goes private and becomes more lean and efficient. Like he has said it would, he considers Tesla being public was an awful decision, etc.

There is also the upcoming imminent "super-battery" boom. Which that lean and efficiency is needed to make the switch.

 

[UNCjigga]

Word is he's getting offered billions in Saudi money...they want a Tesla factory and gigafactory in KSA, along with power projects. Pretty bold for the largest petroleum producer.

 

[JSt0rm]

Word is he's getting offered billions in Saudi money...they want a Tesla factory and gigafactory in KSA, along with power projects. Pretty bold for the largest petroleum producer.

The writing is on the wall. KSA wants to transition. They could be a solar power house.

 

[zinfamous]

Word is he's getting offered billions in Saudi money...they want a Tesla factory and gigafactory in KSA, along with power projects. Pretty bold for the largest petroleum producer.

maybe then Musk should tweet some human rights criticism re: KSA and just see what happens?

 

[Hayabusa Rider]

Per scelus ad astra.

 

[K1052]

I think the intention was to give the shorts a major burn but I suspect he's covered his ass and actually has something resembling an offer to do this.

 

[MomentsofSanity]

Statement from the following members of Tesla’s Board of Directors: Brad Buss, Robyn Denholm, Ira Ehrenpreis, Antonio Gracias, Linda Johnson Rice, and James Murdoch

PALO ALTO, Calif., Aug. 08, 2018 (GLOBE NEWSWIRE) -- Last week, Elon opened a
discussion with the board about taking the company private. This included
discussion as to how being private could better serve Tesla’s long-term
interests, and also addressed the funding for this to occur. The board has met
several times over the last week and is taking the appropriate next steps to
evaluate this.


Investor Relations Contact:
ir@tesla.com

Press Contact:
press@tesla.com

 

[Blackjack200]

Statement from the following members of Tesla’s Board of Directors: Brad Buss, Robyn Denholm, Ira Ehrenpreis, Antonio Gracias, Linda Johnson Rice, and James Murdoch

"funding secured"

 

[MomentsofSanity]

"funding secured"

Yup. I'm watching my feeds for the first class action notice to pop up.

 

[UNCjigga]

maybe then Musk should tweet some human rights criticism re: KSA and just see what happens?

"Tesla Autopilot is so advanced, even a woman can drive one!" <rimshot>

 

[PottedMeat]

Per scelus ad astra.

hey as long as SpaceX continues on, don't really care what happens with Tesla. If that Munro report is true saying 30%(?) profit on a $49k Model 3, they just need to keep their heads down and shit together to slowly rake in the cash.

 

[cytg111]

Word is he's getting offered billions in Saudi money...they want a Tesla factory and gigafactory in KSA, along with power projects. Pretty bold for the largest petroleum producer.

Pretty damn smart. Using oil to get out of oil before its too late.

 

[PeterScott]

I’ve heard investor losses were in the billions. If he made it up, how can that not be securities fraud? I mean, if the SEC actually does anything about it is another question, but there will almost certainly be a class action suit against Elon and the firm.

How can investors lose billions when the stock goes up?

You mean shorts are crapping in their pants, but companies don't have any responsibility to stock shorters.

There was an employee email that has more details about taking Tesla private in a structure similar to Space-X.
https://techcrunch.com/2018/08/07/e...aking-tesla-private-is-the-best-path-forward/

 

[cytg111]

As I read it, it is in the clear, cause he notified investors first.
What shouldnt be legal is wallstretard types hype'n dump'n hype'n short'n repeat... and Musk is fed up with the retards.

 

[Blackjack200]

How can investors lose billions when the stock goes up?

You mean shorts are crapping in their pants, but companies don't have any responsibility to stock shorters.

There was an employee email that has more details about taking Tesla private in a structure similar to Space-X.
https://techcrunch.com/2018/08/07/e...aking-tesla-private-is-the-best-path-forward/

Long investors can lose money by having stops in place that go against them because they weren't watching Elon's Twitter feed (or because he blocked them) and his Twitter feed was not mentioned in their SEC filing as a way to disseminate information. There's a reason trading is halted before major announcements are made.

And it doesn't matter if Tesla has "responsibility" to shorts, you can't manipulate the stock price to force them to cover. That's still a crime.

Another way to look at this is that Wall Street is simply reaping what they sewed since the SEC is a joke at this point. Musk's antics are exactly the kind of shit the '33 act was supposed to stop, and they've completely gutted it.

 

[Blackjack200]

As I read it, it is in the clear, cause he notified investors first.
What shouldnt be legal is wallstretard types hype'n dump'n hype'n short'n repeat... and Musk is fed up with the retards.

Tesla is a publicly traded company, that makes no sense. He clearly did not notify investors first since the stock bounced on the Tweet. Also, all market participants have a right to access this information for a publicly traded stock, not just the investors.

 

[PeterScott]

Long investors can lose money by having stops in place that go against them because they weren't watching Elon's Twitter feed (or because he blocked them) and his Twitter feed was not mentioned in their SEC filing as a way to disseminate information. There's a reason trading is halted before major announcements are made.

And it doesn't matter if Tesla has "responsibility" to shorts, you can't manipulate the stock price to force them to cover. That's still a crime.

Another way to look at this is that Wall Street is simply reaping what they sewed since the SEC is a joke at this point. Musk's antics are exactly the kind of shit the '33 act was supposed to stop, and they've completely gutted it.

It's only stock manipulation if it isn't true.

If it's true, there is no manipulation.

So you are claiming it's a sham, and there is no plan to take Tesla Private?

 

[13Gigatons]

Still can't jump on the Elon Musk bandwagon...

 

[Vic]

Word is he's getting offered billions in Saudi money...they want a Tesla factory and gigafactory in KSA, along with power projects. Pretty bold for the largest petroleum producer.

Smart, not bold. Solar and electric are never going to replace fossil fuels, but instead will add to the overall energy supply. Meanwhile, SA is ideally sited for solar energy production.

 

[Fenixgoon]

As I read it, it is in the clear, cause he notified investors first.
What shouldnt be legal is wallstretard types hype'n dump'n hype'n short'n repeat... and Musk is fed up with the retards.

so, basically all of wallstreet? nothing increases at an increasing rate indefinitely. and yet companies are somehow supposed to show continuous growth quarter over quarter and year over year

 

[K1052]

so, basically all of wallstreet? nothing increases at an increasing rate indefinitely. and yet companies are somehow supposed to show continuous growth quarter over quarter and year over year

Well I did have someone passionately argue to me the other day that the US economy is no longer cyclical thanks to Trump becoming president.

 

[Blackjack200]

It's only stock manipulation if it isn't true.

If it's true, there is no manipulation.

Absurd. Do you know what selective disclosure is?

So you are claiming it's a sham, and there is no plan to take Tesla Private?

None has been presented yet, the letter from the board members did not suggest that a plan was in place. A discussion between Elon and the board does not constitute a plan.