Darn anti-business SEC!
Once in a while even a blind Republican SEC can find a case so bad… they have to act.
Or they have more spine than the average Republican US Senator.
I don’t know what the heck is up with Musk but if he was any more out of control, Trump would nominate him for SCOTUS.
I like Musk’s entrepreneurial spirit, but I think he needs a time-out.
I blame his wackiness on the wackjob-in-chief…
Turns out… corporate finance isn’t rocket science.
“…a company that ended June with $2.2 billion in cash…”
It also has an outstanding debt of $9.2B, out of which $1.3B is coming due by March 2019.
Leave it to the trump SEC to abandon any pretense of inforcing any laws upon the High and Mighty.
Musk has shown repeatedly his Narcissistic contempt for the lessers: “how dare anyone question his undeniable Brilliance and try and contravene the actions of the exalted one”.
This was Fraud and he should be prosecuted for it.
It’s equally sad that so many people from the Progressive End have an undeserved adulation for someone who is nothing more than another Well To Do asshole who actually showed you what he truly is.
Funny. Being Trump’s SEC, I just assumed that this was extortion, that Munchkin had engineered new sources of revenue for his boss.
Believe it or not, I think the SEC acted quickly and dealt out a reasonable punishment…
Musk did committ a no-no, but he did not profit from it…
How do you know? Because if nothing else, he has a very vested interest in the value of the company.
He also has been very critical of the Short Sellers - after all they are hurting his wealth - and this was a blatant attack against those Short Sellers. He succeeded in causing Hundreds of Millions of Dollars in losses on those Short Sellers.
Once again: he committed Fraud; even if he didn’t DIRECTLY profit, he most certainly helped cause lost money on Short Sellers. HE committed Fraud.
He should be serving Jail Time and significant Financial penalties.
Why again are so many Progressive People willing to excuse this?
won’t someone think of the short sellers??
Doesn’t really have much of a ring to it.
Compared to the treatment of Mozilla, (do you remember the Tan Man?), this was the hammer being dropped…
Remind me of the list of personal fines in excess of $10MM that the SEC has levied…
BTW, big boys who short stocks always hedge themselves. They know the risks and if they don’t they deserve what they get…
This is coming from someone that trades options as primary source of income…
WTF! Are you suggesting that Fraud is just a cost of doing business?
Whether they might or might not be Hedged is no reason to excuse FRAUD.
Musk has a DIRECT monetary concern on his Long Standing Money losing Enterprise. This was a BLATANT assault on the Short Sellers that resulted in HUNDREDS of MILLIONS DOLLARS of their losses.
There is NO disputing that his comments MOVED the Markets. He purposely FRAUDULENTLY lied about this with a FULL knowledge that it would cause the Monetary Damages that it did.
That ANYONE can cavalierly dismiss this In this Forum, is to me unbelievable.
Do you have any concept of that for every Transaction that there is both a Buyer and a Seller?
And a Short Seller is nothing more than a participant in such a Transaction.
But given such a intellectual comment, I think I will let it stand on its own.
Without a hedge, they’re called naked shorts for good reason . I look for this stock to now start going north and likely never visiting these levels again. Used to be, and not that long ago, I’d see maybe one or two Teslas in a day. Now I see a half dozen easy, sometimes two or three in the same parking lot. Musk may be wacky but he’s almost become immaterial.
are you kidding? I’m making this part of my e-mail sign-off with my job title, phone and logo!
it’s early - but thanks for the laugh
I’m sorry, I think you took a wrong turn. This forum is where we casually dismiss opposing political viewpoints. The forum for casually dismissing investment positions is a bit further down the Intertubes, two doors on the right.