ARK bought 275k shares at 270ish.

If Elon says they have enough cash to last 10 months that means the real number is more like 5 months, right?

How long until suppliers stop getting paid and then stop supplying?

Looks like I sold some shares to one of these guys today.

Getting a little worried.

I can't be the only one that thinks Musk's email reeks of desperation?

You don't have the CFO approve every single payment company wide unless **** is bad. You especially don't email staff saying this unless it's absolutely necessary, knowing that it would tank the stop. The logic is pretty inescapable. The 17 million shares sold today, about 10% of the float, agree.

Sending out a company wide email, that has a 100% chance of being leaked, telling the world you're less than a year from BK. It's basically suicide

yeah, thank god they're not competing with the richest companies in the world for AI guys making 7 or 8 figures a year or anything like that...

If they're really months away from running out of cash that probably means that most of the money they just raised went straight out the other door to pay past bills. What I don't get is shouldn't they have been required to disclose how precarious their financial situation was before the recent debt/equity offering? Aren't some of the folks who just purchased new equity going "Hey, WTF? What do you mean you're almost out of money"? Seems like something they would have wanted to know beforehand (not that I have any sympathy for institutional investors who are still dumping money into this hole).

Seems like the financers knew and handed him a noose moreso than some slack

Is there any merit to the theory that Musk will do anything possible to keep the carnival going, and squirrel away a nest egg, until he gets margin called, at which point he'll shutter the doors because it'll no longer be worth the effort?

Yeah, they're gonna win the autonomy race despite decapitating customers because their "self driving" software can't see big ****ing trucks blocking the road, and with Elon requiring the child CFO to sign off on all toilet paper purchases as well as everything else.

Buy now! Autonomous robotaxis 2020*

*Depending on regulatory approval^
^Not actually depending on regulatory approval.

Elon Musk is not rational. What else do you need to know?

It should be literally impossible for 1 person of a $20 billion 45.000 employee company to review all expenses in a way that allows to discover inefficiencies / potential savings.

Lets go crazy here and say that the CFO works 16h/day 7d/week and can allocate 50% of his time to this reviewing expenses-effort. Lets be crazy and assume he can go through this process at a rate of 10 seconds / bill (=he can probably identify recurring bills which don't need to be rechecked, etc).

He would be able to process 20k expenses/week at that pace. I think Tesla's actual total number of expenses/week are far higher, like at least 3x higher, probably at least 5x. And my assumption that the CFO of a company like Tesla can allocate 50% of his time to something low mgmt should be doing, is of course crazy as well. And working 112 hours weeks might be optimistic, too.



Also lol@saying you have 10 months left to 45.000 employees a few weeks after raising money. 10 months seems accurate though? He's not being his optimistic self?

elon contradicting elon:



if only there was a word for this and a government agency that dealt with this kind of stuff...

I have a very basic question. I hear this idea all the time... all these people selling. But someone has to buy also, right? 17 million shares sold also = 17M bought, no?

Is there an un-written "at this price" in there?

"Look at all the sellers out in the market today!"
"Look at all the sellers out in the market at $X/share." ?

maybe it's just a rhetorical thing my brain can't get past

When a bunch of sellers come in wanting to offload, there are always buyers at some price. 17 million shares offloaded required a discount of 7.5% to sell them all, or $3 billion off the starting price.

Man, Tesla is ugly. Down another 3.5% premarket to $203. I wonder when the retail morons who the institutions like T.Rowe have been dumping on will start to realize the dream is dead and exit as well? Retail has been buying hand over fist all the way down from $300 (not to mention the assclowns who bought for the "guaranteed" 12% on "funding secured" because they trusted the liar, loser and fraud, Elon Musk, and are now down nearly 50%). Some margin calls already no doubt for some of these people.

There is a great tweet showing how almost all the underwriters on the raise are owed significant $$$ from Tesla through the abl or Elon personally. So bear case is the raise is to shore up the top of the capital stack, funded by hedge funds who are short Tesla with shares sold to baggies

The baggies that worship musk. Oh and James Andersen, ultra baggy

That’s really not even a bear case it’s just reality

Been shorting on way down. May cover half here.

Also it's so beat up I think if they report anything over 70k we see a bounce.

man... to think they raised capital at $240+ just 2 weeks ago.
how do they ever raise again?