“Nobody, when they’re looking at a privatization, dangles this way and does this sort of teasing dance of choreography. Somebody only does this when they are trying to distract us with a shiny new thing…There’s a lot of problems here. He can’t afford to build the new factory that he says he wants to build. This is a distracting strategy like attacking the press” – Jeffery Sonnenfeld, Yale School of Management on CNBC
Elon Musk has turned the U.S. capital markets into a complete farce. He’s made of mockery of the fact that the regulators no longer enforce rule of law. The idea that any financial institution on earth would fund the largest leveraged buyout in history at a level that values Tesla on par with Volkswagen – the world’s larges car manufacturer – is beyond absurd.
We should hope and pray that some truth-seeking entity will hold Musk accountable for what is likely a highly fraudulent claim. Or, then again, perhaps Musk took one of his flying automobiles and went to Mars on Monday to “secure funding” from his Martian financiers.
A careful dissection of Tesla’s latest 10-Q reveals a Company with negative working capital and an unmanageable level of debt and other fixed commitments headed for eventual insolvency.
Beyond ranting about the obvious here, I’m posting an insightful, if not poignant, comment from a friend and colleague:
I am pretty amazed/disgusted that we haven’t come to terms (as a society) with social media. It is in this grey area where leaders of Government and corporations can walk a tight rope of truth/fiction without any consequence or regard for the affect of the immorality and illegality. Narcissistic psychopaths like Musk utilize cult of personality to harness the power of the hopelessly ignorant looking for a guru; looking for a reason to justify their worst impulses and implausible fantasies. From a social science standpoint: it is interesting. From a person of the society: it is mindblowingly frightening.
Looks like the production problems at Tesla extend to Solar City as well.
“According to state records, there are just 12 Tesla roof systems in operation in California.”
Some trading laws are more equal that others.
Unless you are a made man like Musk (Musk—the oily smelly excretions of a forest animal) you cannot trade on anything remotely like insider actions (see Nancy Pelosi worth $60 million on a Congressional salary
) If you are Rep Collins, you and your family get perp walked to jail and hit with $500,000 bail and forfeiture of passports because someone allegedly traded a stock on inside information)
Maybe it was Elon’s clone bro Lone Skum that twittered taking Tesla private with financing in place.
The only idiots with a big enough bank account are either a sovereign wealth fund or central bank
I can’t believe how good he is at stringing people along.
I found the $ 420 funding pretty telltale that he is smoking something….
This worthless turd is an adjunct of the U.S Govt, so why not go private? The U.S. taxpayer will continue to finance his failures, rendering something as problematic as a stock certificate and stock holders demanding accountability obsolete. But like his precious fiat system, his time is just about up.
I think it’s important that the scams play on energy and cars. There’s a deep shared subconscious anxiety about the obviously developing energy problems and most want to believe there’s a techno futurist fix. We’ll all be riding around in super duper solar powered electric cars, not walking and riding bicycles (more likely).
US ‘land whales’ riding bikes. I would love to see that.
Let’s no forget Bezos another form of excrement that stinks
just like Musk, no pun intended.
Musk is in his Own Private Idaho, and so are all of his groupies. (Cf Theranos, but the cult of Musk is like Theranos on Breaking Bad Walter White’s Blue Meth):
Dave, yes, many reasons FANGS and the rest of the leveraged speculative stocks are seen as setup for a 2018 wake up call!
Leading analysts and traders such as yourself have never been more in agreement on the convergence of fundamental and technical points, aside from obvious signs like insider selling and foreign boycotts.
When all is said and done, perhaps actual authenticity (counterfeiting etc.) of share issuance and custody, will by themselves scandalize the current exchanges beyond repair.
The dying US stock market.
August average daily trading volumes for $SPY
2018 so far: 48M
Although public issuers are rife with charlatans and crooks, engaging in a daly activity of market gaming, accounting fraud, and outright theft, we have to point the finger squarely at the federal government, since none of this would have occurred without their aiding and abetting this criminal behavior, by omission of oversight and regulation, and most probably commission of insider trading infractions (congress and other regulatory officials).
This bipolar grifter, Musk, probably thought that being a made man, gave him a license fuck anyone he deemed needing it. And maybe he’s right. So far, the market response to this blatant fraud has been underwhelming. He must have some big time protection. If this company is allowed to continue business with him as the CEO, or even stay afloat given it’s utter insolvency, then we are in big trouble as a nation, as clearly the criminals run the show and aren’t even bothering to hide it, anymore.
Tossla is only the tip of the iceberg. Musk is just a front for a whole slew of fake companies:
These are all a deep state projects to ransack the treasury and taxpayers, and to screw anyone stupid enough to buy stock.
Just like Ballzos is a front for a government project to create a retail monoply and Suckoffborg for one stealing everyone’s private data. Most likely all ICE cars will be declared illegal or subject to punitive taxation, leaving only Lone Skum’s products allowed.
Short stocks like these at your own risk.