Another 13F out today for T.Rowe Price. Largest holders substantially trimming their shares, by 25% and 21%. Meanwhile Softbank has called Tesla overvalued, and the Saudis are heavily involved with Softbank and in fact said they'd follow their lead.
On the debt side, no one will even lend Musk enough to keep his factory going - the last lenders demanded mortgages over real property and he signed the last of that away (Freemont factory) a couple of months ago, as well as minimum cash account balances to not be in default. Which is why they drastically cut capex against their short and long term business interests.
Where are the 10s of billions coming from?
Quote:
By Trevor Hunnicutt
NEW YORK, Aug 14 (Reuters) - Two major Tesla Inc <TSLA.O>
shareholders cut their stakes in the electric automaker during
the second quarter, before Chief Executive Elon Musk announced
he would try to take the company private this month.
T. Rowe Price Group Inc <TROW.O> funds, once the No. 2 Tesla
shareholder after Musk, cut their holdings by nearly a quarter
to 11.9 million shares in the three months ended June 30,
according to a filing on Tuesday with the U.S. Securities and
Exchange Commission.
The disclosure comes days after Fidelity Investments,
another top-10 shareholder, said in an earlier filing it cut its
Tesla stake by 21 percent during the quarter.
Musk faces investor lawsuits claiming fraud and a reported
SEC probe after sending a tweet on August 7 that there was
"funding secured" to take Tesla private. No investors have
confirmed their involvement.
Sounds like people wanting to up their stake, no? Hold into an illiquid go-private event?