$TSLA
- Thread starter Phill Twist
- Start date
I'd be very careful about going long after such a big gap up. I'd rather buy straddle / strangle than going one direction only, except for closely monitored day trade (I bought Puts at $310.x)
As I theorized in a different thread (https://www.elitetrader.com/et/posts/4737203/), I think the SEC is providing institutional investors (bag holders or not) a window to exit their positions without too much of a loss. After that, the DOJ will move in with its criminal indictment against Elon Musk.
I'd also speculate that Elon Musk will use every accounting tricks available to post the best possible (but fraudulent) quarterly result in a desperate attempt to delay Tesla's unraveling / default.
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Exit their positions by selling to whom?
Elon's conduct was certainly reckless but not criminal. Main issue from a regulatory perspective is that the board hasn't effectively controlled its employee (Musk), and the settlement at least partly addresses that. Not that it will save the company in the end, but...
Tesla Suit
Tesla has lost its attempt to have a lawsuit about the mistreatment of foreign workers thrown out of court. The litigants claim Tesla contractors paid foreign workers below minimum wage and overworked them, threatening to withhold pay or have them deported if they reported injuries. Tesla must now defend itself against the accusations. TechCrunch
Tesla has lost its attempt to have a lawsuit about the mistreatment of foreign workers thrown out of court. The litigants claim Tesla contractors paid foreign workers below minimum wage and overworked them, threatening to withhold pay or have them deported if they reported injuries. Tesla must now defend itself against the accusations. TechCrunch
Can anyone here solve the mystery?
https://www.dailymail.co.uk/news/ar...cars-parked-mysterious-locations-country.html
https://www.dailymail.co.uk/news/ar...cars-parked-mysterious-locations-country.html
https://www.cnbc.com/2018/10/04/elon-musks-settlement-with-sec-hits-a-snag.html
US judge asks Tesla's Musk and SEC to justify fraud settlement as 'fair and reasonable'
- The judge gave Musk and the SEC a week to submit a joint letter explaining why she should approve their settlement.
- U.S. District Judge Alison Nathan said the court needs to make a "minimal determination of whether the agreement is appropriate" before approving the deal.
- Federal courts have thrown out previous SEC settlements if they think the agency is too lenient.
My question is why the owners of TSLA stock, the ones with billions at stake, are still putting up with this guy. He's clearly not a good manager or people person, and is hopelessly inept at the operational nitty-gritty of running a major corporation. Visionary Big Ideas types don't waste time obsessing over day-to-day newsflow, or the actions of short sellers, or grudge matches on social media, or stomping around the factory floor shouting at employees.