Tesla suspends shares after Elon Musk tweets he wants to take the carmaker private

n97 mini

Oooo. Only thing worse than being talked about is not being talked about...

https://www.washingtonpost.com/technology/2018/08/07/teslas-elon-musk-tweets-he-wants-take-carmaker-private/?noredirect=on&utm_term=.992997a3a25c

unkel

I feel for the poor bastards that have been shorting Tesla. Not.

cros13

$420... nice return

FriendsEV

Sounds like he has found a buyer

Genius time to sell, Tesla won't be the only game in town for long.

The Black Oil

Heard a financial bloke on the BBC this morning. This attitude was basically GTFO.

ELM327

FriendsEV wrote: »

Sounds like he has found a buyer

Genius time to sell, Tesla won't be the only game in town for long.

The buyer is Elon himself... he's said as much.

ted1

He couldn’t afford it. He hadn’t much cash. And his wealth is tied in to 20% of the stock.

Apple could buy it using petty cash

Zenith74

He said he will not change his shareholding significantly, he is not selling or buying. Fidelity were mentioned as the investing partner, who would buy up the shares of those who choose to exit at $420. This is not a sale of the company or a buyout by Elon, the shareholder list will likely end up fairly similar, with the likes of Fidelity replacing any leavers.

I’d also imagine they won’t need anything near the $80bn funding that has been made available, that’s the max they could possibly need if most shareholders opt to take the $420. If most decide to stay in that $80bn would be significantly reduced, which will be Elon’s preference I’m sure as they would hardly want Fidelity being such a large shareholder.

Teyla Emmagan

He seems to be losing the plot a bit recently.

slave1

Congratulations to the shareholders, nice return if they bought early enough.
Also if the $80b includes his 20% then it would be less and if so an absolute number if every shareholder sells up, unlikely I'd say..

slave1

But he could just be fooking around with the shorts to teach them a lesson

Trasna1

slave1 wrote: »

But he could just be fooking around with the shorts to teach them a lesson

Indeed it's a cheap way to boost the stock price - although it is illegal to make such statements of they are not true. If this is stock manipulation it's not going to end well.

FriendsEV

ELM327 wrote: »

The buyer is Elon himself... he's said as much.

His new Saudi friend maybe

gctest50

.

cros13

I got in at just under $10/share before the IPO.... I'll have to wait to see what the "special purpose fund" Musk is touting looks like... but I'd like to keep my shares.

unkel

ted1 wrote: »

Apple could buy it using petty cash

Now that would be a masterstroke

Oafley Jones

I’ve been fairly negative on Tesla for a long while, but I’m really starting to think Musk has completely gone off the rails now. Nothing about this makes any sort of sense. Nothing.

ELM327

The more i think about it, the more the "funding" from apple makes nonsense

Apple would want 100% or nothing.

FriendsEV

Oafley Jones wrote: »

I’ve been fairly negative on Tesla for a long while, but I’m really starting to think Musk has completely gone off the rails now. Nothing about this makes any sort of sense. Nothing.

He doesnt want to be answerable to anyone

Thinks he so smart etc

Since that pedo comment I have gone off him and his company big time

Zenith74

Oafley Jones wrote: »

I’ve been fairly negative on Tesla for a long while, but I’m really starting to think Musk has completely gone off the rails now. Nothing about this makes any sort of sense. Nothing.

His anti-press rhetoric and that pedo comment had me pretty worried too, but tbh I think this move makes a huge amount of sense -
No more shorts means there is no longer incentive for people to create overly negative press to try to affect he stock price
Reduces the risk that an Uber-style killing of a pedestrian while on AutoPilot destroys the company in one go
No more of that nonsense where supposedly not meeting a weekly production target was going to spell doom - they’ll hit it if they hit it, if not it might be next week, whatever
Allow their finance dept focus on the business not meeting public reporting requirements

Could go on and on, but I think with what the company is trying to do, it makes much more sense to be private than public.

blackwhite

https://www.bbc.co.uk/news/business-45201155


Looks like he'd better put his money where his mouth is fairly fast.

Almost 10 days on from his announcemen" and he hasn't actually put anything to the Board committee set up specially to deal with it.

ted1

There’s a special place in hell for short sellers...