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Elon Musk Tweets About Tesla Sales, the SEC, and a Special Offer From SpaceX (marketwatch.com)
Tesla's model 3 is now one of the five top-selling sedans in America (while sales of the Mercedes-Benz C-Class are down 28 percent through September), Bloomberg reports. Elon Musk tweeted out a link to their article on Thursday -- but it was his other tweet, a satirical criticism of the SEC, that made headlines. MarketWatch reports:
Tesla shares ended 7% lower on Friday as Wall Street reacted to Musk's tweet seemingly out of nowhere late Thursday about the "Shortseller Enrichment Commission." Musk also tweeted that day that short sellers were "value destroyers" and should be illegal. Friday's losses for Tesla "produced more than half a billion in paper profit for the shorts," S3 Partners LLC, which tracks real-time short interest data, said in a note. Since news of the Musk's settlement with the SEC, shorts are up $941 million, S3 Partners said. "Clearly short positions are building in the wake of strong selling by longs, as Musk demonstrates a refusal to keep away from controversy," the note said.
The article notes that last Saturday the SEC settled charges that Musk misled investors with a tweet about taking Tesla private. "Terms of the settlement included requiring Tesla to rein in Musk's social-media communications, but it was unclear when Tesla intends to implement that.... The settlement has yet to be court-approved."
On Friday Musk was back on point, tweeting out the news that Tesla owners "can refer someone to buy a Tesla & get any image they want laser etched in glass & sent to deep space for millions of years."
The article notes that last Saturday the SEC settled charges that Musk misled investors with a tweet about taking Tesla private. "Terms of the settlement included requiring Tesla to rein in Musk's social-media communications, but it was unclear when Tesla intends to implement that.... The settlement has yet to be court-approved."
On Friday Musk was back on point, tweeting out the news that Tesla owners "can refer someone to buy a Tesla & get any image they want laser etched in glass & sent to deep space for millions of years."
Itâ(TM)s a thin line.
Of course, a lot of that threshold is crossed not that much by him but by the public perception, but the overall effects will be indistinguishable in the long run. I hope he manages to claw back on this. Because it would really be a pity if not.
(while sales of the Mercedes-Benz C-Class are down 28 percent through September)
The Mercedes dealership in Atlanta is basically a huge, 4 story parking garage. About half of the front bottom level is the dealer showroom and there is big facade on the front of the building, so it doesn't quite look like a typical parking garage. The other half of the front of the building is the entrance to the service area -- I think it is about two big garage doors wide. If you drive by before the Dealership opens at (I think) 8 am, you'll see a line of Mercedes cars waiting to get into the service area. I notice the line because it frequently backs up out into the travel lanes on Piedmont Road.
This Mercedes dealership is in a very new and shiny building, probably less than 10 years old, so I was really surprised a couple months ago when I saw construction workers tearing down the front facade of the building -- why would such a new building need major repairs already? It turned out they were installing a giant window on the top deck. The dealership now usually parks a C-class and another car behind that window, and they keep them lit up in spotlights 24/7. It's not a very tasteful display -- it's really a tacky, 3-D billboard, but I guess it is not considered a billboard because it is part of the building.
Anyway, thanks to the design of their building, whenever I pass by this Mercedes dealership, I think tacky product that needs to be frequently brought in for fixing. I am not surprised that their sales are down 28-percent.
I do not own any TSLA stock, nor am I shorting it.
[It is said that Elon Musk reads Slashdot and there is strong suspicion about what his username is. I'm not including that username here in case that information is wrong.]
Do you have any more, erm, "unique" quotes you want to share about the SEC (and your opinions of them) ?
Your last one got quite a bit of coverage... :-)
On the more serious side, you once rather suddenly dismissed an employee that had apparently shown amazing loyalty to you, claiming it was time for her to move on. I strongly disagree with the way you did that BTW.
However, have you considered that you yourself might need a break so that you can come back recharged and ready for new challenges ?
Now we gotta have news stories on the front page about ANOTHER jackoff's tweets? You know, for a group of nerds who are supposedly above the plebian social media, we sure do hear a lot about tweets around here.
I thought this was a tech site and not just another outlet for billionaires' bullshit.
You are welcome on my lawn.
PEDOS.
"Terms of the settlement included requiring Tesla to rein in Musk's social-media communications, but it was unclear when Tesla intends to implement that.... The settlement has yet to be court-approved."
"In exchange for not having to admit guilt, you agree to give us money and give up your First Amendment rights."
Yeah, that's not gonna work for me. Because it implicates speech, the government should be forced to prove the crime in court, and thus that the speech was part of the crime (like advertising illegal drugs or fraud)...or give up on restricting speech.
(-1: Post disagrees with my already-settled worldview) is not a valid mod option.
Tesla's official announcements come from tweets, so unlike other social media they are actually very relevant, hence why the fucktard is in trouble over his tweets. Personally I suspect he has just taunted the bull one too many times now, DOJ were probably looking at saying the settlement was enough, but he has immediately shown contempt for that and that he really was after the shorters so I expect criminal charges are on their way for him now. Musk has really lost it.
Musk will rot in jail ... on Mars!
Go ahead - mod this down Elon you crazy old fuck
I thought many were still waiting for delivery of pre orders. So is he simply delivering on previous pre orders, or is he actually selling more new orders? Selling sedans is not exactly the best selling type of vehicle anymore for any manufacture. Musk might be brilliant be he's got that car salesman smooth talking down to a science. I don't believe a word he says anymore.
People who short the stock of have absolutely no affect on a company' operations. None.
Musk likes using short sellers as a distraction from the fact that Tesla is losing money, is cash flow negative and is buried in debt beyond a healthy level. Of course anyone pointing out those facts are called "trolls" or "shorts". Which he then bullies along with his cult following those people. What he did to that analyst during that conference call and to the blogger Montana Skeptic was just pure asshole.
And calling legitimate questions about financials "bonehead questions" instead of answering them is a big red flag. And when you add in the fact that CFOs don't stay put is another red flag. Tesla has some huge problems and those Model 3s are going to do shit.
The focus on the Model 3 deliveries is another distraction.
Also remember that Model S sales have tanked and there's all the Solarcity - the company that Musk bought from his relatives - debt that has to be handled.
Tesla has only been around for as long as it has because Musk keeps getting people to put more money into it. Tesla is not a sustainable business. And I have a sneaky suspicion that Q3 isn't going to be that good - more losses and negative cash flows - because all the press is about Model 3 production numbers. "Ignore the books! Look at all the cars I'm making! Oh! And forget that I said I was going to make 500,000 in 2018!"
Musk should be making 125,000 cars a quarter and he is very very short.
I don't see what the fanboys cannot or refuse to understand this. The Tesla fanboys are just like Creationists in that they refuse any information or facts that contradict their worldview. And the fanboy worldview is that Tesla is the most successful auto maker ever which
What people forget is that before the '420 tweet' investigation was announced, there was already an open investigation into Musk's Model 3 production promises. And don't forget the DoJ has an open investigation. If the issues with the feds were settled then why the rant and why now hire a law firm that specializes in defending its clients from fraud? https://www.bloomberg.com/news...
So? Tesla's "official announcements" are just press releases, meant to boost their stock price. Why are they being reported on Slashdot.
And it's not his "tweets" that have gotten Elon Musk's dick caught in a wringer, but the fact that he tried to game his stock value by claiming the company was going private. It's not the tweet that was illegal, it was the behavior - the thing he did. Twitter got nothin' to do with it.
You are welcome on my lawn.
What people forget is that before the '420 tweet' investigation was announced, there was already an open investigation into Musk's Model 3 production promises. And don't forget the DoJ has an open investigation. If the issues with the feds were settled then why the rant and why now hire a law firm that specializes in defending its clients from fraud?
https://www.bloomberg.com/news...
*puts fingers in ears* Lalalalalalalalalalalalalalalalalalalalalalalalalalalalalalalalalalalalalal
Elon Musk is a god. He is perfect!
because Telsa is a disruptive technology company in the hands of a moron that seems hell bent and sending it to the graveyard and himself to jail.
I think German cars are designed for the leasing market - people who keep their cars 3 years max. Mercedes, BMW, Audi.
Here's another anecdote, this guy bought a Mercedes $100K+ something or another and at 56,000 miles the transmission goes out. He brings it into the dealer and they say, "Yep, it's broke. It'll be $7,000 to fix."
Guy says, "What?! It only has 56K on it! Isn't it under warranty?!"
"Nope! It's 3 years, 36,000 miles."
Without insider knowledge shorts are nothing but pure gambling, ...
Shorts are accountants and lawyers and others who really analyze a company's books. They knew about Enron and Lehman before they crashed.
We don't wake up one day and say, "I hate Tesla. Musk is a jerk! Rei flamed me! I'm gonna short!!"
Tesla is losing money, it's cash flow negative and it's piled high in debt - for starters. It can only operate with continuous cash infusions. And it's priced at $270+ a share.
OK?
A company like that and off of the top of my head, I think a fair market value is about $40ish a share.
Tesla is incredibly overpriced in our opinion. That is all.
It's NOT Tesla hate. It's not Musk hate - although, I do resent him for the way he treated that analyst months ago that he apologized to.
It's just accounting and cold calculation.
Musk is the one who is making it personal and emotional - which doesn't reflect very well on him - another problem with Tesla: management.
Sorry, but the odds are stacked in the shorts favor. It's just a matter of when the market changes its mind.
I do not know what fanboys refuse to understand this. They're not stupid.
A picture etched on glass and shot into space where no one is ever going to see it? How about "For every referral, I'll shut up for a week?"
The Model 3 "sales" metric right now is actually how many he's able to produce to satisfy purchasing decisions people made a long time ago, not how many people went out and made a purchasing decision today.
I don't see how the head-to-head comparison against current sales data of other cars could be meaningful without knowing whether the Model 3 waiting list is growing, shrinking, or staying about the same.
It was "just" a finance executive.
They clearly have not, as per the delivery report. They increased over last quarter, and are well on their way to Tesla's max annual 100k S+X production capacity.
Compare it to last year.
Please mortgage your house and short the company, since you both hate Tesla and love short selling.
Yep, gonna do that on Monday.
What he did to that analyst during that conference call: Which analyst? One asked a question that was literally answered right at the top of the Q1 report that everyone was supposed to have read before joining the call. Boldfaced. By re-asking Tesla about that, he was basically accusing them of lying. The other was pushing a conspiracy theory that Tesla's demand was running out. It's five months later and it still hasn't happened, so clearly it was a boneheaded question.
That's complete bullshit. And even it that were true, why did Musk feel the need to apologize? Seriously Karen, you can do better than that.
And as far as to what you know about financing a company: nothing. Again, shorts have NO affect on a company's performance. None.
Tesla is SOOOOO overpriced that it's a bubble.
But this's my entertainment. You don't really think you're making a difference in investor's impression of Musk or Tesla do you? Yeah, you get a lot of karma here on Slashdot but do you think you are swaying minds at Fidelity, T Rowe, or the fund that back Musk? I come here and play but the fact is that you and this website are nothing but a stinky fart next to a volcano vent.
Oh! And if by some miracle Tesla shows a profit at the end of this month, I'll be reaping the cash too because I hedge - which is something Musk doesn't understand. For someone who is supposed to be a genius, he's quite ignorant about risk mitigation.
So darling ... I fantasize that you're some dark haired beautiful Icelandic beauty with big blue eyes and I know for a fact, wicked intelligent - I don't mind your posts at all.
But from what I see, Tesla has serious issues and I'm still sticking to my timelines: Tesla busts by the end of 2018.
Do I want it? Yep, I like being right.
Do I want those workers to lose their jobs? Nope. I'd take Musk's dick up my ass to prevent that.
Do I acknowledge reality? Yep. And you don't. I have the financials on my side and you have nothing but Musk's bullshit.
Kill the brain dead short idiots and kill the sec idiots and kill all shorts
I think he has been acting like somebody going towards a major mid-life burn out from working too hard with too much stress... He likely copes with his problems with more work / obsessing and now he is in a situation where he's pushed himself too far for too long and he is coping with it by pushing himself more. He is also older and has been doing the stuff for many years to himself.
Drugs may become a part of that downward spiral but they do not need to be before he ends up needing a vacation in a padded room... A nervous breakdown or some other similar mental condition looks to be around the corner. He might end up more like Howard Hues, if he is lucky or he could end up overdosing... His family doesn't seem to be curbing him yet; it could turn around. All these things are not permanent (except death) and nobody is super human. Most of us wouldn't cope like him by working like he is; some would curb our activities or develop other bad coping mechanisms like alcoholism or spousal abuse..
Democracy Now! - uncensored, anti-establishment news
Welcome to 'Merica, the country which is an outlet for billionaires' bullshit.
The sedan market has massively shrunk in the last year with sales migrating to SUVs, it's not just Mercedes. If you look at total Mercedes sales there's nothing close to a 28% drop. You can see similar drops for other sedans as well. It's got to the point where some sedans have either left or taken a break from sale. Then there's the fact that Tesla are delivering on back orders that were made prior to the switch in market preference.
In summary, being fifth in this market segment may appear impressive at first glance, but two thirds of their current models are in a rapidly dwindling market segment. Soon they should be even higher by default, but that's not a good thing long term.
Every time Musk moans about these "value destroyers", or tweets something dumb to stick it to them, his own stock tanks. If he wants to build value he should learn to shut up.
Yet adore trump for "telling truth to power".
No thin line for them: if you're their leader, you're golden, no matter what.
"They have no influence on your profitability,"
Bollocks. Share prices drop due to short sellers, so your available cash which is what shares fucking well are, drops, so you can't spend that cash to help pay for the outgoings.
A short sells something you do not have. That makes an extra share that DOES NOT EXIST, What bullshit ignorant idiots you alt right haters are.
because Telsa is a disruptive technology company
Hahahaha. What has Tesla "technology" "disrupted" recently?
I find it interesting so many investors are trash-talking Elon Musk and his unwillingness to just "pipe down and start acting like a typical, boring big business CEO". Yet you see all the praise of the street artist Banksy, when he trolled buyers at the Sotheby's auction with his self-shredding painting someone paid $1.4 million for.
Of course, what we're going to see with that situation is that the value of the painting will almost DOUBLE thanks to those antics, and both Sotheby's and Banksy win tons of free publicity and name recognition.
I feel like Musk is another one of the rebel, eccentrics who just wants to make and sell some cool products and do things that can change the world, in the long-run. If his insulting short-sellers and frank attacks of people who attacked his business models, efforts and idea first are a problem for you? Fine .... Go invest in any of thousands of boring, stable stocks for big businesses owned by stuffy people in suits.
At the end of the day, what really matters is the ability to build and sell a product or a service that people want to buy. Tesla has succeeded in droves, making a car that many owners consider "the best automobile I've ever owned". And he's privatizing space travel with his OTHER business, which slowly makes NASA obsolete. Good stuff, in my book!
I came here expecting the first post to be about etching goatse on glass for future generations to enjoy. Yet not a single post that my simple search found.
Sad.
You know, for a group of nerds
Nerds are typically interested in people who do cool shit like launch things into space and shake up a 130 year old car industry with technology.