As a die hard Mets fan growing up, I felt embarrassed watching Dykstra's turd shame spiral and Cramer's double fist shaft rub while he glazed his knuckles in Lenny's mediocrity...
TSLA - on verge of bankruptcy?
- Thread starter Saltynuts
- Start date
As a die hard Mets fan growing up, I felt embarrassed watching Dykstra's turd shame spiral and Cramer's double fist shaft rub while he glazed his knuckles in Lenny's mediocrity...
SEC? Please. SEC will come after the whistleblower in a lot of cases. Read Einhorn's "Fooling some of the people all of the time"
Also, some figures don't have to be illegal and/or a violation of GAAP to be fabricated. GMCR I believe was overstating revenues by recording revenue when shipped and then shipping product to customers who didn't want it.
Read the footnotes, ladies
I was very specifically reffering to the very specific and completely unsubstantiated assertion that Tesla was fabricating the number of deposits they had received on the model 3. I'm sorry if that wasn't clear to you. That would be illegal and would certainly be pursued by both the SEC and shareholder lawsuits. Nothing to do with anything in Einhorn's book really. Not sure what it has to do with GAAP either unless they fabricated that number on their books, which would be booked as a liability without the matching cash flow, so such fabrication would actually make their overall books look worse and be easy to spot.
However you're really playing into my point that you all have worked yourself into such a frenzy about this that you're making shit up from nothing, implausible shit at that, and then still defending such fabrication again based on no data or facts. If the company's in trouble surely one could convey that with the facts at hand and no need to resort to libel?
I can tell you from firsthand experience with SCTY that Elon's companies are a shitshow when it comes to at scale operations. Probably why SpaceX is successful, it's much more low volume high touch innovation which is his forte. I've even been short SCTY and long their competitors to exploit that. That said, I'm not tripping off line on here and making shit up, that's completely unnecessary and unprofessional.
The point wasn't TSLA, which I waste zero time looking at, as it is one of the most widely-followed stocks in the universe and thus I have no edge. My point was that SEC tends to investigate the whistleblowers in many cases, such as Einhorn's. I wouldn't count on them enforcing anything, so that's a bad rule of thumb. I'd trust a short position from Jim Chanos and Einhorn ("fraud" signal) over lack of SEC action (non-"fraud" signal) all day.
I see your point though, if you cut the BS out of this board you'll end up with 1% of the posts...
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You know what is unprofessional? Putting your cousins on your company's board, not reporting by GAAP, making shit up about the future, consistently lying about plans and achieavable production numbers, and not to mention raising money in every 6 months. Manipulating stock price by Twitter. Bailing your cousings' bankrupt company out while making millions and sticking it to your stock holders...
THAT is unprofessional. Also telling to stock holders that the M3 will be made in mass production by the end of 2017 when your chief builder told you it was impossible, that is called FRAUD. (and there is a law suit about that)
So get the fuck down from your high horse because anything what Elon says in unprofessional and if it wasn't him, the SEC would have stepped in long time ago...
Hey, I like you @Pekelo, I'm really just pointing out that you're usually much more professional than this. Certainly you don't need to stoop to that level, you obviously don't think much of Elon's behavior so the last thing you want to do is engage in behavior of the same type. There's plenty of things that are verifiably questionable about Elon's behavior, focus on that. Making stuff up out of thin air only weakens your assertions.
It is called deductive logic, since we know we can't trust Tesla's reporting.
What do we KNOW?:
1. Elon loves to lie but also to boast. Now if the number of deposits were consistently growing (after the initial 400K claim) we would have heard about it. Yet we very seldom get an update on the actual current number.
2. People realized 2 things:
a/ There will be no 35K M3, probably ever.
b/ The 7.5K credit will run out faster than you can get a fairly cheap M3.
Because of these FACTS, it is safe to say that depositors started to cancel their positions in the line and even if there are newly signed up people, the cancellations probably outweight the incoming money.
3. They like to report absolute numbers (500K deposits altogether ever) instead of relative, current deposits (probably under 300K). This is a simple accounting trick and you only do that when the actual numbers are declining.
What neither we nor Tesla know is how many still in the line people wouldn't buy a 45K car, just a much cheaper 35Kish car, the car that will never exist. Some of these people might gamble and try to sell their newly delivered expansive car, but that will just shorten the line.
In all truth, Tesla doesn't want to quickly satisfy the people in line because there is way less people willing to pay 45K than 35K. Thus they would run out of customers much faster if they were able to make 5K cars per week. That is not in their best interest, so my bet is the production topping at 3K/week.
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