Elon Musk/Tesla

[ZedLeg]

Considering the amount of times he's had to delete stuff from twitter because it's generated a shitstorm around him, I wouldn't say that's a given expectation .

[NotoriousREV]

You can make announcements over stock intentions etc over social media if agreed with shareholders, as I understand it (I saw a note to that effect in relation to this exact announcement) - the relevant authorities will allow it these days. Whether thats in advance, part of the terms of holding shares etc I'm unsure.

But if shareholders weren't aware of that in advance, then er, yeah, problematic.

Given how often he says thing on twitter that could impact stock price, I'd expect that he's covered on that front though?

There are very well defined announcements that you can or must make at various times as a public company by law. Publicly musing that you might take it back privately at a certain price point is not covered by any of this and you're basically telling people that you will buy their stocks off them at a higher price than they're currently available for, thus starting a rush to buy those stocks which in itself pushes the price higher. You simply can't do this, otherwise you'd have people doing it all day every day just to make money off price movements (which is what happens a lot in the OTC market via illegal pump and dump schemes).

[Beany]

Hey, you navigate these waters more than I do, I'd be surprised if you weren't right, honestly.

Does seem like a patently stupid thing to do if so. But then he did call a rescue diver a pedo a few weeks ago, so it could cut either way.

Financial authorities over that way are being tight lipped for now, but I imagine they'll have something to say soon enough.

[JLv3.0]

Hey, you navigate these waters more than I do, I'd be surprised if you weren't right, honestly.

He is right - it's called 'actual knowledge on a subject'

[NotoriousREV]

Hey, you navigate these waters more than I do, I'd be surprised if you weren't right, honestly.

Does seem like a patently stupid thing to do if so. But then he did call a rescue diver a pedo a few weeks ago, so it could cut either way.

Financial authorities over that way are being tight lipped for now, but I imagine they'll have something to say soon enough.

I'm a director of a Plc. If I was allowed to offer free unicorns to make my shares go up to the point I could retire, I'd do it immediately

[Beany]

Hey, you navigate these waters more than I do, I'd be surprised if you weren't right, honestly.

He is right - it's called 'actual knowledge on a subject'

HUSH THY MOUTH!

[duncs500]

Hey, you navigate these waters more than I do, I'd be surprised if you weren't right, honestly.

He is right - it's called 'actual knowledge on a subject'

Are you new to the internet? Knowledge on a subject you're commenting on is frowned upon.

[JLv3.0]

I see that now, and I'm sorry.

[NotoriousREV]

We mustn’t forget, of course, that his full name is Elongated Muskrat.

[duncs500]

I read his biography recently actually. Interesting guy, I do believe that he is a genius, but also complicated. I don't think he always makes the right decisions (case in point possibly), but he makes most things go well by having an idea and simply bludgeoning it into a success and not compromising or relenting until it's done.

[Mito Man]

OT but he just seems like someone who is quite high on the autism spectrum to me. And it really annoys me how crap he still is at public speaking despite doing for so long now!

[JLv3.0]

What do you think his opinions of you are?

[Mito Man]

A man of exquisite taste but an absolute baby murderer as I don’t drive a Tesla?

[Simon]

As far as I can read, this isn't about him buying all the shares, as he says that everyone would keep their shares if they wanted to. It's just about effectively 'delisting it' from the stock market. I don't see how that would protect him from the Saudis.

[NotoriousREV]

As far as I can read, this isn't about him buying all the shares, as he says that everyone would keep their shares if they wanted to. It's just about effectively 'delisting it' from the stock market. I don't see how that would protect him from the Saudis.

When a company delists it usually buys the shares back off the shareholders, although some shareholders may continue to be private shareholders in the new business (usually those who hold larger volumes). The only way they can get shareholders to sell enough shares is to offer a premium over their current value.

The Saudi group were looking to start a hostile takeover by acquiring 5% of the shares, which is the minimum they need to start that process (plus this triggers a formal announcement that they’ve hit the 5% mark). To complete that takeover, they’d need to acquire 50%+1 share (IIRC) within a certain amount of time.

By announcing his “plan”, the price suddenly increases sharply, making much harder and more expensive which makes it far less attractive to the Saudis.

[Simon]

Useful info, ta.

[Mito Man]

It seems just a bit futile fighting against a country which has the biggest reserves of natural resources and thus can afford anything if they really want it.

[Simon]

I work for a NASDAQ tech company that similarly had a vulture fund buy 5% or more of our stock at the end of last year. SEC announcements were made, emails were sent around. It's a bit unsettling really. I get Musk's point about the 'street' and how investors only seem to have an eye on the short term. Our quarterly all-hands meetings seem to have a large focus on EPS and the bottom line and that's all investors seem to care about from one quarter to the next, not how you've invented some widgety doo-dah that's gonna make you a billion dollars in a few years time.

I think the asia-pac countries are better than this, and you have to admire China for playing the extraordinarily long game in the world of global finance and company growth.

[NotoriousREV]

It seems just a bit futile fighting against a country which has the biggest reserves of natural resources and thus can afford anything if they really want it.

They can afford it, but that doesn't make it a worthwhile business investment.

[NotoriousREV]

I work for a NASDAQ tech company that similarly had a vulture fund buy 5% or more of our stock at the end of last year. SEC announcements were made, emails were sent around. It's a bit unsettling really. I get Musk's point about the 'street' and how investors only seem to have an eye on the short term. Our quarterly all-hands meetings seem to have a large focus on EPS and the bottom line and that's all investors seem to care about from one quarter to the next, not how you've invented some widgety doo-dah that's gonna make you a billion dollars in a few years time.

I think the asia-pac countries are better than this, and you have to admire China for playing the extraordinarily long game in the world of global finance and company growth.

We're a recent-ish flotation and it changes the focus of the company: it's all about hitting your numbers. It gets frustrating when you can't get the money you want for investment in infrastructure because it would mean missing targets and thus having an impact on company value (and then patiently explaining that if the website falls over we don't have a business and we'll definitely miss our numbers)