Tesla CEO Elon Musk recently said the tweet that cost him and TSLA $40 million (combined) in SEC fines was, “worth it”. Worth it, apparently, because of the likes. And the source of that somewhat stunning revelation seems pretty solid, because that source is Elon Musk, himself, via Twitter. Worth it — Elon Musk (@elonmusk) October 27, 2018 For those of you who have forgotten or willfully ignored the cause of the SEC fines, the SEC charged Musk, 47, with intentionally misleading investors with intent to fraudulently manipulate stock prices after a series of tweets on Aug. 7. In those tweets, Musk that said he would be taking Tesla private at $420 a share, and that he had already secured funding from an unnamed source. Those tweets were, of course, total bulls***, and the ensuing market chaos cost Tesla investors (bears and bulls, alike) millions of dollars. Despite the blatant stock manipulation and shady business practices, however, a whole hot mess of conned … [Read more...] about Elon Musk Says $40 Million SEC Fine “Worth It”
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With not many specifics available yet on Elon Musk's Aug. 7 tweet about taking electric car maker Tesla private, analysts covering the company are debating if his $420-a-share proposal is a fair price for the stock, or if the transaction will even materialize.Six of the 13 analysts who International Business Times/Newsweek spoke to think Musk's offer, which would value Tesla at $71 billion, is not a fair price for investors.On the other hand, six others aren't sure if the taking-private deal would even materialize, citing the current fundamentals of the company. They have price targets well below $400 for the stock, with Cowen setting it as low as $200. Among the latter six, Efraim Levy, senior equity analyst at CFRA Research, did not provide a price target but thinks "there is significant risk that the transaction doesn't happen," adding the company is extremely highly valued, often too richly.ADVERTISINGGlenna Anderson, from BMO Wealth Management, was not in either of the two groups, … [Read more...] about Tesla stock price: Is Elon Musk’s $420-a-share proposal fair?
As the internet’s most-read auto website among the elite billionaires of the world, I can’t believe I’ve yet to solicit tips from one of our most beloved group of readers on this: Do you know who is backing Elon Musk’s bid to take Tesla private? No one seems to have any idea. Do you? If Musk meant what everyone reasonably understood him to mean when he said he had the “funding secured” to take Tesla private at $420 a share, then, well, whomever, or whichever company, is making that dream come true isn’t talking. The list of possible candidates with enough cash to pony up the estimated $80 something billion dollars necessary to make it work is already slim as it is. The sovereign wealth funds of Norway and Saudi Arabia seem unlikely, and the notion of an oil-enriched fund buying out the all-electric Tesla seems, uh, weird? Dan Primack of news outlet Axios sniffed around as well, and came up short: Bloomberg caught up with more than a dozen … [Read more...] about Do You Know Who’s Backing Elon Musk’s Bid to Take Tesla Private?
He did it. Holy shit he did it. Elon Musk, the One True Star Boy, launched a fucking car into space. When Elon Musk, CEO of both Tesla and SpaceX, announced that he would be putting his own original Tesla Roadster on top of the very first Falcon Heavy test flight to act as ballast, everyone thought he was joking. And then pictures started showing up of the car being loaded into the payload bay of the rocket. The video of the capsule opening up starts around 41:25: And now, he’s gone and done it. This is Elon Musk’s Tesla Roadster, floating in outer fucking space. It’s incredibly surreal to see it just, well, floating there. Above all of us. Complete with its passenger, a dummy named Starman who will presumably send telemetry about the heavens back down to Earth. The infotainment screen, helpfully, contains the familiar refrain from the Hitchhikers’ Guide To The Galaxy: That is, of course, helpful when staring directly into the abyss of the universe. And just … [Read more...] about Elon Musk Actually Shot A Tesla Roadster Into Space
After the successful launch of their most ambitious mission so far, SpaceX CEO Elon Musk is on a high, but his Tesla brand seems to be taking hit after hit. The production and delivery of the Tesla Model 3, their "affordable" $35,000 (£25,227.30) car seems to be hitting several roadblocks.Today, news broke that delivery of the base variant of the Model 3 has been pushed back to early 2019. This comes right after their Q4 and 2017 report was published. Cars that were promised in early 2018 are now being pushed to 2019.According to their website, customers who were waiting for the standard battery variant, rear wheel drive Model 3 will have to wait nearly one more year. Those who made the Day 1 reservation will get their cars, according to the website in late 2018, and Day 2 reservation holders will have to wait until next year.The reason for this push-back is reported to be because of the losses that the company has been facing over the last few quarters. Insideevs reports that if … [Read more...] about Is Elon Musk paying more attention to SpaceX than Tesla? Model 3 delivery pushed back to 2019