Source: https://money.usnews.com/investing/stock-market-news/articles/2018-06-06/tesla-inc-tsla-stock?src=usn_rd For better or worse, Tesla Inc (Nasdaq: TSLA) shareholders are staying loyal to visionary CEO Elon Musk. Shareholders voted down a proposal to separate Musk's chairman and CEO positions at Tuesday evening's shareholder meeting, and Musk doubled down on his promises that Tesla would be cash-flow positive and profitable by the third quarter. Tesla shareholders voted down proposals that would have split the chairman and chief executive roles and replaced three long-time Tesla board members. The votes were a victory for Musk, who has faced intense scrutiny in recent quarters after Tesla has repeatedly failed to hit Model 3 production targets. From someone who was there: Bob Wilson
i can't imagine who would be more qualified to run the company. maybe the shorters are hoping for a bob klutz type.
Source: s3partners on Tesla It’s been a very good day for Elon Musk and Tesla Inc. (TSLA) long shareholders but a very forgettable day for the $11 billion of short sellers in the stock as they are down over $1 billion in mark-to-market losses on Tesla’s 9.7% price move. The rally comes on the heels of a successful annual meeting . . . What attracted me to look: http://www.hybridcars.com/tesla-ceo-elon-musk-splurges-25-million-worth-tesla-stock/ Tesla CEO Elon Musk has purchased $25 million worth of Tesla stock this week. According to an SEC filing, his latest purchase totals 72,500 shares ranging from $342 to $347, representing ownership of roughly 19 percent of the company. Last month, Musk also purchased $10 million in stock, a move widely acknowledged as an attempt to reverse sentiment amidst Model 3 production woes and strike back against short sellers. “The sheer magnitude of short carnage will be unreal,” tweeted Musk at the time. “If you’re short, I suggest tiptoeing quietly to the exit…” Bob Wilson
And brains! Given Elon's history started with a home-brew video game, his companies are the greatest games in the world. Where else does he get to shoot investment bankers, short sellers, and his skeptics. Bob Wilson
TSLA is now down only 8%. ($358.17 vs $389.61). Elon's purchase in the open market indicates that there isn't any immediate significant news to trigger an insider trading charge. Can this roller coaster set a new high? Will anyone care about the numbers from the second quarter? Will The Faithful and The Fanboys hold Elon to his guidance of being cash flow and income positive for the third and fourth quarters? Who's buying the next secondary to enable Tesla to keep the lights on and the doors unlocked into 2019? When will the next barnacle be named JB? I suspect the one thing that we can agree on is that the ride over the next year or so is going to be as exciting as it has been over the last 15 years.
the next year or so should be very different. the model 3 production will either keep increasing or it won't. orders will keep coming in or they won't. tesla will either become profitable, or will keep pumping cash into 'other than car production'. which is fine by me, as long as profits are there to do it.
