Tesla up 16% - promises this was the last unprofitable quarter

[blwnsmoke]

So all he has to do is "promise" and shares go up almost $50 a share.

 

 

https://finance.yahoo.com/m/1b205f04-8cbd-3893-931b-3f05aecea41a/musk-apologizes-to.html

Edited August 3, 2018 by blwnsmoke

[tbone]

Apparently rainbows and unicorns can increase stock values.

[jcartwright99]

It's really all smoke and mirrors. What happens if they aren't profitable by Q3? N O T H I N G! This is truly the definition of insanity. I work in Wall Street and even I don't get it. Not everyone is buying this as the risk is mounting though.

 

My guess is that much like Tesla had to make their goal of 5k model 3's in a week. It will happen or get real close to happening for 1 quarter by moving things around. The following quarter they will be probably be back to massive losses and missed production figures. Nobody said investors (gamblers) were smart.

[ice-capades]

Has there been any information on Tesla's weekly production rates since they met the 5K objective with a 2nd line under the tent?

[blwnsmoke]

Has there been any information on Tesla's weekly production rates since they met the 5K objective with a 2nd line under the tent?

They didnt make it the 1st time, they were late by several hours.

 

The articke mentions they made 5k multiple times last month. But they also pulled people from the home solar portion and flew in non factory/assembly line people to build the cars.

 

I definitely want a solar roofer building my 70k tesla under a tent. Hell, I will take 2.

Edited August 4, 2018 by blwnsmoke

[fuzzymoomoo]

They didnt make it the 1st time, they were late by several hours.

 

The articke mentions they made 5k multiple times last month. But they also pulled people from the home solar portion and flew in non factory/assembly line people to build the cars.

 

I definitely want a solar roofer building my 70k tesla under a tent. Hell, I will take 2.

Dont forget pulling people from the Model S/X line

[jcartwright99]

I can't wait to see longer term quality on these tent cars.

[rmc523]

Has there been any information on Tesla's weekly production rates since they met the 5K objective with a 2nd line under the tent?

I thought I read something that said 6K per week. But that maybe just been a projection by X date.

[twintornados]

[rperez817]

I thought I read something that said 6K per week. But that maybe just been a projection by X date.

 

Yes sir rmc523, the 6K units per week number is Tesla's forecast for Model 3 production by late August 2018. https://www.foxbusiness.com/technology/tesla-reports-steeper-loss-says-model-3-production-will-hit-6000-per-week

[blwnsmoke]

In other news.. Space-X scientists and engineers shift to a tent to balance the tires being put on Model 3s.

[J-150]

Tesla made a promise?

 

Bwahahaha.

[silvrsvt]

Now this- Elon says he might take the company private

 

https://jalopnik.com/elon-musk-says-he-has-the-funding-to-take-tesla-private-1828164385

[jcartwright99]

Now this- Elon says he might take the company private

 

https://jalopnik.com/elon-musk-says-he-has-the-funding-to-take-tesla-private-1828164385

 

 

Lots of rumors of big investors in the middle east and asia wanting to take it inhouse

[Assimilator]

And it's official....

 

 

 

Taking Tesla Private

August 7, 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

[coupe3w]

Is this guy a con artist? Can he even make an announcement like that legally?

[fordmantpw]

Is this guy a con artist? Can he even make an announcement like that legally?

Since he tweeted it first, the SEC says its ok.

[mackinaw]

Hope it happens. Then Wall Street will finally stop fawning over the guy and his car company.

[twintornados]

Sounds eerily similar to what Henry did when FoMoCo when to family controlled stock....

[jpd80]

Sounds eerily similar to what Henry did when FoMoCo when to family controlled stock....

Except that Musk will expect all those small investors to follow Tesla going private

and become private investors with him not requiring to buy out many at all.

 

Musk would be off the chain and not required to report quarterly financial results.

Maybe that's his aim, close ranks and keep prying eyes away...