Musk has just sold some more shares presumably to help meet his costs of buying/running Twitter.
Sales in China are coming under pressure from domestic rivals - apparently Tesla have resorted to advertising on TV there.
He will be left with SpaceX.
Twitter will be a $44Billion bonfire, or at best, a $44Billion version of Parler, to round up the extreme right wingers and conspiracy nuts.
Tesla has been way overvalued in relation to actual product, and now that all car manufacturers are going electric, Tesla will diminish as it isnât unique.
SpaceX it is Elon!
Concentrate on that. The rest of it is going to go backwards.
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I always thought that they should have concentrated on the battery technology and had a joint venture with Toyota or someone for the cars.
At the moment they are charging BMW money for a Lada quality product.
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I presume this a legal cooperation issue (to mitigate their own criminal liability) rather than whistleblowing? Whistleblowing is very lucrative in big cases, with the presumption that the individual will be blackballed, and so theyâll typically be in line for 10% of what the government reclaims. But when money has been lost like this and investors need to be made whole, is there even any potential for the normal whistleblower pay off?
It is a plea bargain. They have been offered reduced sentences - Wang was facing 110 years.
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This strikes me as astonishingly rapid. FTX only filed bankruptcy in early November. Now two of the principles have already pleaded guilty to very serious charges. SBF waiving extradition is also a signal he will cooperate and seek a deal. Sentences will be interesting. Given the amounts of money involved, I would presume even plea-bargained sentences for the first two would be no less than five years and perhaps closer to ten.
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which puts them into their 40âs as free men and likely sitting on millions of money stashed away in secret accounts awaiting their release from Club Fed. Thatâs how it works these days, I fear
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Could also be a sign that SBF wants to get the hell out of that Bahamian jailâŠit does not have a pleasant reputation.
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Jesus, Tesla is now down to 120. Pure fundamentals would see it at somewhere about 60, which already takes into account a good deal of expected near term growth. But I think even the people who truly believed that didnt think it would come back down towards that point so quickly from its recent high of 400.
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This seems ludicrous. He has assets to cover a $250M bail? His parents lose their house, so what?
probably the same assets he declared when he was running FTXâŠ
A lot of people/institutions have been short Tesla since it was in the 60s. They got absolutely crushed on the way up. Very expensive stock to short now, though itâs paying off for those who managed to time it right. Most car companies sell at less than 10 times their earnings. Tesla at 60 would be about 19X. Could be a decent shout.
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Shorting Tesla didnt make much sense to me at those lower levels as it is such an emotionally driven stock.
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SBF to move back in with parents. Launch failure in the extreme.
For nearly two months Bitcoin has flatlined around $16K while several more exchanges have gone into consolidation or bankruptcy. How is that?
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In a time of a sector crashing you would expect to see consolidation among the true believers towards the supposed strongest of the sectorâs assets. You could understand why crypto people might migrate their cyrpto investments into bitcoin and away from more closely controlled assets, which would help prop up the value while everyting else is falling.
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As @Limiescouse says there is still plenty of true believers still out there. However, I also think there is a lot of cross ownership and cross lending that has taken place yet to be fully exposed.
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Much of that within Binance, perhaps. I do feel entity or group of entities is defending the price. $20K was defended for about five months, thereabouts. Now the $16K range is even tighter since early November. Given all the bad news, one would expect a bit more of an exodus.
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