Tesla to go private?

This reminds me of the 2000 dot.com bubble. $60 billion market cap company with zero earnings and no earnings on the horizon.

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Just now, JohnAtronis said:

This reminds me of the 2000 dot.com bubble. $60 billion market cap company with zero earnings and no earnings on the horizon.

then I guess Telsa doesn't need anymore government subsidies from the taxpayer.

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The company's shares, which opened the day at just under $344, rose 4 percent following Musk's tweet, then gave up some of those gains. The shares managed to bounce back to around $370 a share when trading was halted. The stock had been up earlier in the day after it was reported a Saudi Arabian sovereign wealth fund had bought a $2 billion stake in Tesla.

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Really not sure why the world isn't understanding that every other car company on the planet has an EV program. Also, I don't think he is going private, he only did it to smoke the shorties

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3 minutes ago, Joanna said:

Really not sure why the world isn't understanding that every other car company on the planet has an EV program. Also, I don't think he is going private, he only did it to smoke the shorties

Musk may dislike Short Sellers too much for his own good. But, using his words to push the share price higher he unwittingly made the shares even more attractive to shorties

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2 minutes ago, Nigerian Price said:

Musk may dislike Short Sellers too much for his own good. But, using his words to push the share price higher he unwittingly made the shares even more attractive to shorties

Maybe the short sellers get burned, but this company is much worse off as a private one. Tesla needs to raise more capital to survive

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15 minutes ago, Joanna said:

Really not sure why the world isn't understanding that every other car company on the planet has an EV program. Also, I don't think he is going private, he only did it to smoke the shorties

Tesla will be seeing lots of competition in the next couple of years. For instance, VW R&D budget is 10 times Tesla and they already have factories for production.

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26 minutes ago, JohnAtronis said:

This reminds me of the 2000 dot.com bubble. $60 billion market cap company with zero earnings and no earnings on the horizon.

Unless he can come up with a real offer backed by $50 billion that is presented to the board within a day or two, this would be market manipulation and massive securities fraud

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30 minutes ago, Ajan Bosnjacki said:

Musk is also making a lot of terse moves on Twitter 

 

Screen Shot 2018-08-08 at 8.17.34 AM.png

he does remind me of Trump in many ways. Just more pleasant accent 

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Just now, Joanna said:

he does remind me of Trump in many ways. Just more pleasant accent 

except he knows how to make money. Unlike Trump

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26 minutes ago, Joanna said:

Really not sure why the world isn't understanding that every other car company on the planet has an EV program. Also, I don't think he is going private, he only did it to smoke the shorties

We haven't even seen the short squeeze yet. If Musk's notion gains credibility, the stock could easily go over $500.

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10 minutes ago, Cokiga Damke said:

Unless he can come up with a real offer backed by $50 billion that is presented to the board within a day or two, this would be market manipulation and massive securities fraud

^  this.  Very much so.

Musk's LBO Plan Triggers Furious Controversy, And One Burning Question

And here a bigf problem for Musk emerges, because as @TeslaAgnostic points out, merely the intent of a "going private" transaction, triggers rule 13E-3, which requires the company to file a Schedule 13E-3 with the SEC as well as furnish the required disclosures to the company's shareholders. Note: the rule is triggered in either case, even if the intent to go private is ultimately unsuccessful.

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53 minutes ago, Tom Kirkman said:

^  this.  Very much so.

Musk's LBO Plan Triggers Furious Controversy, And One Burning Question

And here a bigf problem for Musk emerges, because as @TeslaAgnostic points out, merely the intent of a "going private" transaction, triggers rule 13E-3, which requires the company to file a Schedule 13E-3 with the SEC as well as furnish the required disclosures to the company's shareholders. Note: the rule is triggered in either case, even if the intent to go private is ultimately unsuccessful.

A potential deal to take Tesla Inc. private would be by far the largest buyout in history.

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1 hour ago, Cokiga Damke said:

Unless he can come up with a real offer backed by $50 billion that is presented to the board within a day or two, this would be market manipulation and massive securities fraud

First lets look at Trump and see if he broke any laws were broken in his Tweets. Then we can use that as a precedence to see if any laws was broken by Musk. 

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Price of EV's will be the determinant. And Tesla ain't there.

 

They have a beautiful front in Devon that was a Toyota dealersip next to the GE Capital bldg.

 

Maybe he can pull off skimming the way Welch and Immelt did it at GE Capital and other GE Enterprises.

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12 hours ago, Cokiga Damke said:

Unless he can come up with a real offer backed by $50 billion that is presented to the board within a day or two, this would be market manipulation and massive securities fraud

Oh lookey here ..

SEC Probes Tesla CEO Musk’s Tweets

WASHINGTON—U.S. regulators are askingTesla Inc. TSLA -2.43% whether Chief Executive Elon Musk was truthful when he tweeted that he had secured funding for what would be the largest-ever corporate buyout, people familiar with the matter said.

Officials at the Securities and Exchange Commission want to know whether Mr. Musk had a factual basis for tweeting Tuesday that the going-private transaction was all but certain, with only a shareholder vote needed to pull it off, the people said.

The SEC’s inquiries, which originated from the agency’s San Francisco office, suggest Tesla could come under an enforcement investigation if regulators suspect that Mr. Musk’s statement was misleading or false.

... 

Under U.S. law, companies and corporate officers can’t give shareholders misleading information about meaningful company events. Mr. Musk also could be in trouble if regulators develop evidence that he made a statement aimed at goosing his company’s share price.

Mr. Musk shocked Wall Street by tweeting Tuesday that he planned to take the electric-car maker private at $420 a share, or $72 billion. That is about 20% above the stock’s trading price earlier that day and 11% higher than its Tuesday closing price. In his tweet Tuesday afternoon, Mr. Musk wrote that the buyout had “funding secured,” but he didn’t provide any details. ...

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