TSLA shares halted.....

[CampingJosh]

And he made and sold thousands of flamethrowers a few months ago via The Boring Company that he owns. He can't be all bad.

No, he made and sold propane torches. The kind that have been in farms stores for longer than I've been alive for <$100, and he managed to sell them for $500 each by shaping them like guns.

I only wish I had a dedicated following who would give me such money.

 

[HoughMade]

If he really wanted to buy back stock and transition to private ownership, wasn't this a stupid thing to do? The stock prices are soaring up. The man isn't that stupid. Someone is making some side $.

Disclaimer: I don't own the stock but I love the tech. I do have a buddy working for them in CA.

He's not primarily talking about buying back all the stock. He's talking about taking it private with the owners of publicly traded stock now being the owners of shares in a private firm.

He outlined a plan under which shareholders could be bought out for $420 a share — a 20 percent premium over the stock price after the company’s second-quarter earnings call last week — or they could remain as private shareholders.

TSLA is at $370 currently (down 2.43% from yesterday). Chances are, that $420 will never see the light of day. However, keeping the stockholders in a privately held company with implications, if not outright promises, that $420 will be in the rearview...camera once the company is private? Won't be hard. Musk fanboys are Musk fanboys.

Like I said, more than a little P.T. Barnum.

BTW- there is no real precedent for making shareholders of a publicly traded company shareholders in a company taken private. Not that it can't be done, it's just that it's certainly not common, there is no blueprint, and may not have ever been done.

...and will certainly get the SEC curious. Of course if it is ever successfully pulled off, then the SEC will have to focus on other companies with fantastic claims and unfulfilled orders.

...but with less dancing but probably more historical revisionism.

 

[hoosierdoc]

Does anyone else think 420 was chosen for a reason?

 

[foszoe]

It crossed my mind

 

[ArcadiaGP]

Tesla's board has decided to remain a public company

 

[Vigilant]

I'd like to know how many of us don't try to get all we can from the Government? They give me a tax break on a home improvement that I want, I am going to use it. They offer a monetary incentive that my business can benefit from, I am going to take every bit of it I can.

I don't blame the entrepreneur.

I blame the government.

Can’t say it much better than that!

 

[CHCRandy]

This company is so hard to figure out. I don't think it will ever be profitable in our lifetimes....but then you have professional analysts who say it is worth $40,000 per share, not now but in near future. I see it as a company that has spent billions to lose billions and will have to spend many more billions to probably lose many more billions. Who really wants a $100,000+ car that you order online and wait a long time for? Not many dealers, repair centers, parts, have to charge....just nothing really interesting. They sold cars because of tax incentives and a huge cult like following, but the tax incentive is almost used up and then car will cost even more.

People think the real value in Tesla is not the cars at all...the real money is in taxis that need no drivers and semis that need no drivers. I heard the other day there could be a 85% profit margin on them 2 items alone...now think how many semi's and taxi's are in the world. If we replace them 2 categories with vehicles who don't need drivers, and make 85% profit margin, they would be worth 100's of billions.

So in a nutshell...you have to be a true visionary to believe in the future with no drivers in vehicles......and I just can't see it. I can't ever envision a world where vehicles drive around without someone to control it. I mean, look how many Tesla's have crashed just from that autopilot stuff. I also can't see Tesla ever having dealerships and parts inventory like Ford or GM....it would take trillions of dollars. I don't see Tesla surviving as just a car maker unless it is purchased by one of the large manufactures that already have a dealer network.

 

[ArcadiaGP]

Elon Musk will be on the Joe Rogan podcast later today. Should be an interesting show.

 

[ArcadiaGP]

Elon's definitely an awkward guy.

https://www.youtube.com/watch?v=ycPr5-27vSI

 

[ArcadiaGP]

Really don't know which thread to continue this conversation in...

So last night during Elon's interview with Rogan... he took one puff from a blunt (doesn't look like he even inhaled), and sipped some bourbon while talking.

News orgs today are chalking this up to the reason two Tesla execs have quit, and shares being down 9%.

 

[HoughMade]

https://www.cnbc.com/2018/09/07/tes...it-after-concluding-musk-wasnt-listening.html

Brand new Chief Accounting Officer quit over the aborted "take it private" thing.

...and the "take it private" plan was abandoned after the SEC served a subpoena and, apparently, financing for the the plan was not secured.

 

[Alpo]

It took the new Controller a month to go over the records. He also mentioned something about cobblers' children and barefoot.......

 

[CHCRandy]

Really don't know which thread to continue this conversation in...

So last night during Elon's interview with Rogan... he took one puff from a blunt (doesn't look like he even inhaled), and sipped some bourbon while talking.

News orgs today are chalking this up to the reason two Tesla execs have quit, and shares being down 9%.

He is one odd duck, but a brilliant man. He is probably a genius, but like most geniuses, he is dumb as a box of rocks on common sense! Guy can build a friggen rocket but don't know how to act in public. I personally don't care what he smokes, but man when you are dealing with peoples money and future, you gotta put yourself in their shoes. Trust is hard to earn and even harder to regain.

 

[HoughMade]

He's brilliant, no doubt.

I've known brilliant people who believed they could outsmart anyone....forgetting that they probably can't outsmart everyone.

He's a master manipulator. Sometimes that's illegal, most times not.

 

[Alpo]

No doubt a very smart guy that most wanted to see succeed....

....until his ego exceeds his grasp.

 

[HoughMade]

Do you have Tesla solar tiles?

[video=youtube;ABR4KgXoZPE]https://www.youtube.com/watch?v=ABR4KgXoZPE[/video]

Probably not.

 

[ArcadiaGP]

Musk is being sued by the SEC

 

[ArcadiaGP]

Wow.

Elon Musk settles fraud charges with SEC for infamous 'funding secured' tweet, must step down as Tesla chairman and pay $20 million fine

https://www.businessinsider.com/teslas-elon-musk-settles-with-sec-must-step-down-as-chairman-2018-9

 

[hoosierdoc]

Not bad, got out of a failing venture

 

[Spear Dane]

Musk needs a shrink.