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10b4me
Social climber
Lida Junction
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Where’s the money gonna come from to buy back the shares? Supposedly he would need $62 billion to buy back the stock.
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Reilly
Mountain climber
The Other Monrovia- CA
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He wouldn’t need that much as supposedly some fanbois would accept shares in a private
Tesla. I would think he would need at least 30 Billion unless there are a lot more suckers
out there than I think there are. That kind of money doesn’t grow on trees nor would he get
much, if any, from an attempted bond float. Maybe he thinks he can sweet talk the Saudis
now that they’ve got skin in the game but I doubt it.
The real question now is whether Trump lets the SEC have at him. Sure seems like he’s
got some serious splainin’ to do.
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Duke
Social climber
PSP
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As a Tesla share holder, I along with many other share holders would have 0 interest in selling at $420. Will be happy moving to a private share holder position. No reason long term share holders would be interested in cashing in? Most have been in for a very long time.
Tesla is probably better suited to be private vs. public.
Musk owns 20%, and won't be selling.
If it happens, it will be the largest LBO of all time. It won't be easy as there are several tests that must be passed including a shareholder vote.
I also own the X. Like the stock it has out performed expectations.
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Majid_S
Mountain climber
Karkoekstan, Former USSR
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There are over 53 electric car/truck startup now in silicon valley and 90% are Chinese based manufacturer so What Tesla accomplished in 10 years, these guys are doing it in 1-2 years. You do the math
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tooth
Trad climber
B.C.
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Wrong. Nobody has accomplished what Tesla has. Not even ford in 100 years. Nobody has a supercharger network. Long distance driving capability that I would take over my ICE. Multiple models which are good to drive etc. Tesla has a complete and worthwhile product. Not a neiche one off product.
You are saying that Karma and others who have one working prototype for sale have what Tesla has.
I'm saying that Tesla has a compelling and viable mass-produced produce in three models that has the ability to have replaced my gas car with ease and which which I have put on 20,000km in the past 4 months when I could have chosen to take my ICE up here in northern BC. Because it is better to drive, own and operate and that those other companies offer the same.
Wrong.
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tooth
Trad climber
B.C.
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As a Tesla share holder, I along with many other share holders would have 0 interest in selling at $420. Will be happy moving to a private share holder position. No reason long term share holders would be interested in cashing in? Most have been in for a very long time.
Doesn't work like that. If you're out, you're out.
If you get all intransigent about selling, you'll end up with a motion to partition and you're on the outside looking in.
BJ, it looks like you don't know what you are talking about at all. He isn't out. Current shareholders are not out. Read Elon's tweet before and after the one that says $420 and funding is secured. SMH. Really? How ignorant can your comments be? Just because you haven't thought it through doesn't mean the CEO and board haven't.
@elonmusk
Def no forced sales. Hope all shareholders remain. Will be way smoother & less disruptive as a private company. Ends negative propaganda from shorts.
@elonmusk
Replying to @heydave7
Absolutely. Am super appreciative of Tesla shareholders. Will ensure their prosperity in any scenario.
@elonmusk
Shareholders could either to sell at 420 or hold shares & go private
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tooth
Trad climber
B.C.
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Did your ignorance embarrass you? If only you had read more than once sentence.... you wouldn't have been so wrong and had to resort to name calling reminiscent of pre-school. Good job BJ!
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tooth
Trad climber
B.C.
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You'd better hope the CEO got it all backwards with his tweetS or you'll look like an even bigger fool.
If it hadn’t been for his tweets you would know zero about this. So why are you latching onto part of one tweet and twisting it and then implying that the rest is a lie? Either take it all at face value or don’t. Creating fantasies out of part of a tweet makes you look silly. I have one fewer posts on this thread than you BJ.
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couchmaster
climber
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Ill take t"tings that don't matter worth a cuk for $100 Alex.'
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mucci
Trad climber
The pitch of Bagalaar above you
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I am buying another house with my earnings on Tesla this year.
Haters gonna hate.
Maybe it will implode, maybe knott, but I am getting mine.
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August West
Trad climber
Where the wind blows strange
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Not all doubters are haters. I actually hope Tesla succeeds but I am in the camp that thinks they have less than 50-50 chance of succeeding as an independent car company.
Musk is a polarizing figure. The media hype and fan worship is annoying but whatever.
Musk is also a bit thin skinned. I could totally see him making an impulsive tweet about taking the company private in order to punish short-sellers. If that is the situation, I hope the SEC takes appropriate action.
And I would be a little reluctant to buy a Tesla. If the company goes completely under, future maintenance/battery replacement and resale value could all be an issue.
Although I think Tesla being sold is more likely than liquidation, but with Musk's ego, you never know how it might shake out.
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blahblah
Gym climber
Boulder
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I am buying another house with my earnings on Tesla this year.
Haters gonna hate.
Maybe it will implode, maybe knott, but I am getting mine.
I suppose that's a bit like the Trump economy in general. Hard to say how it will play out, but so far at least, a lot of us are relishing the ca-ching! while it lasts.
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mucci
Trad climber
The pitch of Bagalaar above you
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Effie A DMT...
Ride that train. I worked for tesla doing all their food in house when they began, before the sedan, before the subsidy.
I watched the first sedans unveiling.
Talked to the engineers, and grease monkeys.
I have been “in” for over a decade.
South Bay style.
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Reilly
Mountain climber
The Other Monrovia- CA
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The quality of the Mod S isn’t in question. The Tucker was also a great car.
The quality of the company is much more than just the car.
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Reilly
Mountain climber
The Other Monrovia- CA
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Reuters:
He has not provided details or evidence of the funding by Twitter or in a following blog posted on the Tesla web site, and several securities attorneys told Reuters Musk could face investor lawsuits if it was proven he did not have secure financing at the time of his tweet.
"The words 'financing secured' are the danger point – that’s a statement of fact and could set him up to be accused of a material misstatement if it's proven false," said Erik Gordon, an assistant professor at University of Michigan’s Ross School of Business with a background in law.
Using Twitter to announce materially important information is not common, but the SEC allows companies to use social media to announce key information in compliance with its fair disclosure rules if investors are alerted about which outlets will be used.
Musk is a prolific tweeter and Tesla alerted investors in a 2013 SEC filing that they should follow Musk's Twitter feed for "additional information" about the company.
There is no reference to Musk's Twitter account on the company's investor relations page under "investor communication," although Tesla's Twitter feed is included.
Some Wall Street analysts were skeptical of Musk's ability to gather the huge financial backing to complete such a deal, given that Tesla loses money, has $10.9 billion of debt and its bonds are rated junk by credit ratings agencies.
"Who gives $30 to $50 billion to buy back the shares?" asked NordLB analyst Frank Schwope. "And if you stay as a shareholder you get less information than before and you depend more and more on Elon Musk."
If you’re long Tesla you’re either an idiot, terminally greedy, or both.
The shorts are sharpening their knives.
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Majid_S
Mountain climber
Karkoekstan, Former USSR
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tooth
Look at Neo
https://www.nio.io/
This is one of the 53 companies I was talking about. my guess is that over 50% of their engineers came from tesla.
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tooth
Trad climber
B.C.
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I don’t get it. You post skepticism and hearsay based on what the CEO introduced and you think there is a reason for me to respond? The SEC isn’t investigating anything, the shorts hired lawyers to ask the SEC to do so, and the SEC has responded by simply asking for a report to back up the word Secured that he used. Remember that in 2013 the SEC expressly stated that Elon could use Twitter as a mouthpiece.
So now you expect a response every time another guy posts another guys thought on the matter?
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blahblah
Gym climber
Boulder
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tooth, I don't think you're right, according to reports, the SEC is investigating Tesla/Musk.
https://www.wsj.com/articles/sec-has-made-inquiries-to-tesla-over-elon-musks-taking-private-tweet-1533757570
They could be in a lot of trouble as his "announcement" significantly moved the stock price, just as it was clearly intended to do. (I'm assuming his statement was not true, as most people are now.)
I don't have strong opinions about Musk one way or the other except it's pretty clear he's been acting unbalanced, and that can have consequences when your a Twitter user / head of a public company.
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tooth
Trad climber
B.C.
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No. Have not opened an investigation. They have a preliminary inquiry that they are doing that won’t necessarily lead to anything more formal. According to Judith Burns the SEC spokeswoman.
The only way this could lead to an investigation is if it was materially false. By seeing as the Board has been discussing it for a week already, it doesn’t appear as if Musk shot of a random thought spur of the moment.
Of course everyone wants to know where the money is coming from and wish they had known about SA months ago, but if I were Apple, for example, asking to buy in , i would want my identity kept quiet until after the shareholder vote.
Notice the difference between news that reports on what someone’s emotional response to this is (like the links above that quote brokers et. al. ) and the bare facts about what has happened. Eg, Elon tweeting news on the company he is CEO of, on Twitter, which the SEC expressly states is fine to do in their resolution five years ago. Then the fact that Tesla both out out a blog post and reported what their Board has been doing about it. That’s all the facts. All the rest is speculation and hype. What do you gravitate to?
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couchmaster
climber
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The stock is overvalued as much as any stock in history it seems, I can recognize that for many of us we want the technology and the company to have wild success. They are differing things. If you want to drink the stock koolaid you will lose money, it is a matter of time when you will lose it, so drink in moderation. Good luck, and I too hope the company has great success.
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