Eric Idle. Got it.
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I dunno, TSLA is one wild ride… it already hit this low twice this year.
Compare that to the less wild ride that is Apple.
Nudge-nudge, wink-wink…
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I’ve been wondering the same thing. He’s also the biggest stockholder. How is his work going to change with him giving up the chairman position?
He is CEO. And main stockholder. Who is his new boss supposed to be???
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Musk’s net worth is guesstimated to be $19.7 Billion. So a $20 million fine is 0.1% of his wealth. If we adjust that to impact on a median-wealth American family, with a net worth around $100,000, that’s a $200 Twitter post.
So this $20 million fine hits him on the order of two speeding tickets. I would argue that $20M is not a number that inconveniences someone like Musk in the least.
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They should have asked for 1B and settled for 420M.
The CEO of a public company reports to the board, which as of now Musk is no longer a member of.
Elon, please get back to shippin cars and flyin to Mars!
Cheers!
First thing the board should do is force Elon to take two weeks off someplace without an internet connection.
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The underlying business model is relying on a $35k model 3, which is nowhere in sight… otherwise the demand for luxury cars that need repairs straight off the lot may be reaching saturation. If they don’t maintain that high demand, they will continue to burn money to a point that they will need a cash infusion in the next year or so. The inflated stock price is a hedge that Tesla is a transformative company that will somehow change the way we live (whether it’s through transit or battery/energy tech). More likely, it’s a niche luxury car brand that will not survive the coming tide of similar, luxury electric cars. I hope I’m wrong, as I’d prefer a diverse market and positive press around low-emission vehicles in general.
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He’s still on the board, just not the chairman.
The shorts would have lost more. Its market manipulation - do you really wanna invest in a rigged market? The CEO position is way more important than Chair. Frankly in this kind of company its terrible that there was no separate Chair.
I ask myself, should other shareholders suffer because of Musk? And then I think about every bank settlement, and I think yeah they ffing well should have. Cos why didnt they oppose Musk as CEO and Chair? And cos what use is a bent capital market?
Its a slap on the wrist and an invitation to large scale market manipulation. Hedge fund shorts would have received margin calls and may have been forced to cover. One might argue they can seek their own remedies in court and that retail seldom shorts. But there is nothing in this decision that discourages market manipulation at all.
My opinion of the SEC plumbs new depths.
Yeah, and the board reports to the shareholders, and you just told us he is the main one.
Good of you to give the disclaimer.
As it happens I’m short a trivial amount. I just figured if I didn’t short this one I couldn’t look at myself in the mirror in the morning.
But each to his own and why not. Its not as if I am always right.
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So not to gloat, but it looks like I called it: TSLA bounced right back to where it was before this ‘panic’ evolved late last week. I expect much of that to be opportunistic bargain hunters, so expect probably 5% bleed-off this week, but TSLA will likely hover around $300 until the Q3 earnings come out. I anticipate good production and profitability numbers, so target price will be right back at $380.
It did precisely that. I would imagine they will do their best to show appropriate numbers understanding fully the sensitivity of those numbers. But such numbers are eminently spin-able. Stuff a channel with part completed cars and just book them as finished. It would fit with the very high numbers which are coming back to the plant.
What I cant explain is the steady drain of senior staff - and often after very brief tenures. Such staff will have been amply compensated in stock options that will vest i.d.c. So when they have that stock exposure and still choose to leave, I cant help but wonder what it is that they know that we don’t.
Still, the main recent issue is the SEC blessing market manipulation by fining a fraction of the losses associated with the false announcement. I suspect it should be labelled, “dont try this at home”.
“You’re not the boss of me, no”
I just thought it was the theme to malcolm in the middle, didn’t know it was a full song. Also that actually was kind of in my head as I was typing that which is weird to me that you brought it up, so you win?
Nah. I’m not the boss of you. 
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