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Elon Musk tweeting about taking TSLA private at $420 update: Musk letter to employees
Posted on 8/7/18 at 11:58 am
Posted on 8/7/18 at 11:58 am
Elon Musk
?
Verified account
@elonmusk
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Am considering taking Tesla private at $420. Funding secured.
LINK
?
Verified account
@elonmusk
Follow Follow @elonmusk
More
Am considering taking Tesla private at $420. Funding secured.
LINK
This post was edited on 8/7/18 at 2:32 pm
Posted on 8/7/18 at 12:02 pm to The Egg
SEC bout to be all on his arse
Posted on 8/7/18 at 12:03 pm to castorinho
Of course the thing is shooting up
Posted on 8/7/18 at 12:03 pm to castorinho
Cnbc is saying traders can't verify the tweet.
Posted on 8/7/18 at 12:15 pm to The Egg
That can't be legal. He's trying to bury the short sellers.
Posted on 8/7/18 at 12:33 pm to beaverfever
quote:
That can't be legal. He's trying to bury the short sellers.
I personally hope the end result after a few months is a drop in the Tesla stock. I have been looking to buy some for some time I just won't at the current market price.
Posted on 8/7/18 at 12:46 pm to beaverfever
That would be hilarious. Steve Eisman put a short on TSLA a few weeks ago.
Posted on 8/7/18 at 12:47 pm to The Egg
This is either the most foolishly misguided 420 joke or the dumbest attempt of stock manipulation.
Then again,I suppose these two things aren't mutually exclusive.
Then again,I suppose these two things aren't mutually exclusive.
Posted on 8/7/18 at 1:04 pm to SonicAndBareKnuckles
quote:$368 and rising
Elon Musk
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@elonmusk
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Replying to @Gfilche
My hope is *all* current investors remain with Tesla even if we’re private. Would create special purpose fund enabling anyone to stay with Tesla. Already do this with Fidelity’s SpaceX investment.
This post was edited on 8/7/18 at 1:06 pm
Posted on 8/7/18 at 1:11 pm to AUjim
halted as of 2 mins ago - news pending
This post was edited on 8/7/18 at 1:15 pm
Posted on 8/7/18 at 1:24 pm to The Egg
quote:
news pending
Breaking: Musk under investigation for securities fraud.
I kid.
Posted on 8/7/18 at 1:25 pm to Shepherd88
Kinda hope he gets popped for stock manipulation, guy needs to be exposed for being such a fraud.
Posted on 8/7/18 at 1:35 pm to al_cajun
quote:
Kinda hope he gets popped for stock manipulation, guy needs to be exposed for being such a fraud.
Exactly. He is one of the biggest frauds in business history. Belongs in the same conversation as that chick that created the finger prick blood test that could check for everything. Why she is still walking the streets and being heralded as a business genius is beyond me.
Posted on 8/7/18 at 2:05 pm to anc
quote:
Belongs in the same conversation as that chick that created the finger prick blood test that could check for everything.
She fabricated the entire premise of her business. Musk has, at a minimum, produced elite consumer vehicles.
Posted on 8/7/18 at 2:20 pm to al_cajun
quote:
Kinda hope he gets popped for stock manipulation, guy needs to be exposed for being such a fraud.
I get the stock manipulation angle but is it really illegal to discuss taking a company private if he truly has the funding mechanism in place?
Lots of talk that this is a legitimate strategy on his part
quote:
Musk does not want to run a public company," Munster wrote on his website. "His mission for Tesla (to accelerate the globe's adoption of sustainable energy) is both grand and long-term, making it difficult to accommodate investors quarterly expectations."
Posted on 8/7/18 at 2:29 pm to lynxcat
quote:LINK
Taking Tesla Private
7 August 2018
The following email was sent to Tesla employees today:
Earlier today, I announced that I’m considering taking Tesla private at a price of $420/share. I wanted to let you know my rationale for this, and why I think this is the best path forward.
First, a final decision has not yet been made, but the reason for doing this is all about creating the environment for Tesla to operate best. As a public company, we are subject to wild swings in our stock price that can be a major distraction for everyone working at Tesla, all of whom are shareholders. Being public also subjects us to the quarterly earnings cycle that puts enormous pressure on Tesla to make decisions that may be right for a given quarter, but not necessarily right for the long-term. Finally, as the most shorted stock in the history of the stock market, being public means that there are large numbers of people who have the incentive to attack the company.
I fundamentally believe that we are at our best when everyone is focused on executing, when we can remain focused on our long-term mission, and when there are not perverse incentives for people to try to harm what we’re all trying to achieve.
This is especially true for a company like Tesla that has a long-term, forward-looking mission. SpaceX is a perfect example: it is far more operationally efficient, and that is largely due to the fact that it is privately held. This is not to say that it will make sense for Tesla to be private over the long-term. In the future, once Tesla enters a phase of slower, more predictable growth, it will likely make sense to return to the public markets.
Here’s what I envision being private would mean for all shareholders, including all of our employees.
First, I would like to structure this so that all shareholders have a choice. Either they can stay investors in a private Tesla or they can be bought out at $420 per share, which is a 20% premium over the stock price following our Q2 earnings call (which had already increased by 16%). My hope is for all shareholders to remain, but if they prefer to be bought out, then this would enable that to happen at a nice premium.
Second, my intention is for all Tesla employees to remain shareholders of the company, just as is the case at SpaceX. If we were to go private, employees would still be able to periodically sell their shares and exercise their options. This would enable you to still share in the growing value of the company that you have all worked so hard to build over time.
Third, the intention is not to merge SpaceX and Tesla. They would continue to have separate ownership and governance structures. However, the structure envisioned for Tesla is similar in many ways to the SpaceX structure: external shareholders and employee shareholders have an opportunity to sell or buy approximately every six months.
Finally, this has nothing to do with accumulating control for myself. I own about 20% of the company now, and I don’t envision that being substantially different after any deal is completed.
Basically, I’m trying to accomplish an outcome where Tesla can operate at its best, free from as much distraction and short-term thinking as possible, and where there is as little change for all of our investors, including all of our employees, as possible.
This proposal to go private would ultimately be finalized through a vote of our shareholders. If the process ends the way I expect it will, a private Tesla would ultimately be an enormous opportunity for all of us. Either way, the future is very bright and we’ll keep fighting to achieve our mission.
Thanks,
Elon
Posted on 8/7/18 at 2:33 pm to Tigeralum2008
quote:
making it difficult to accommodate investors quarterly expectations."
Not perpetually lose hundreds of millions of dollars?
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