link to the meeting:

https://www.youtube.com/watch?v=Va5i...ature=youtu.be

I may have been wrong about the insurance thing being 100% false but interesting that Elon just said they still need to make an acquisition and write some code before release. More than 30 days after he said insurance would be available in a month.

Weird.

Someday these questions about disinformation may be viewed as the epitome of this entire era of protective herd investing.

So Elon's answer is that we beta test everything on customers and our own demo cars aren't any further advanced than the crappy Level 2 cars you have and our confidence that we will be feature complete by 2020 is based on nothing but our need to keep our company afloat. This is a really hard problem and if Tesla still exists I will still be talking about how hard this problem three years from now.

you've got to hand it to him, he just keeps going.
sec won't stop him, banks won't stop him, retail investors keep throwing their money at him.

6 weeks ago he promised 1m robotaxis by next year and got $2.7b from retail shareholders.
today it's like that never happened.

why do you think the 2.7b was from retail shareholders? i was under the impression the majority of the raise was from large institutions that were already very exposed to tsla equity and bonds.

I still don't see it happening. MAYBE they get a product out in a limited service area, but I don't see widespread Tesla insurance available and certainly not by end of summer.

The raise was primarily from convertible bond arbitrageurs who immediately shorted the stock to cover their exposure. So, in a sense, the money came from whoever bought the stock the arbs sold short.

So, the money from the stock raise came from folks who bought the stock? BREAKING NEWS

this

That was breaking news actually because that's not how capital raises usually play out and it highlighted the lack of confidence of the underwriters and the incompetence of the CFO to structure a raise to allow such an opportunity.

Price action today was a bit surprising. I thought the shareholder meeting was pretty convincing that deliveries were looking good this quarter but the quick sell-off seems to imply that the SP will be driven by profits (imagine that) as opposed to deliveries. Has the recent run-up just been investors piling in looking for the shareholder meeting pump as opposed to the demand narrative turning more optimistic?

What about the meeting indicated deliveries were looking good? I didn't see any strong quotes. If anything I thought the lack of strong statement suggested they weren't so good.

IMO the recent run up spy + "leaks". I think you needed stronger language about deliveries (now that more info has come in) to continue that run .

No mention of robotaxis, fsd eoy, and appreciating assets is very bearish considering

Texas still slow:
https://twitter.com/CovfefeCapital/s...31482124943361

Maybe a big spike coming as mentioned in this thread?

These statements were so outlandish I'm still not convinced many people with money believed it.

ya i agree. he barely talked about deliveries and when he did it was language like we "have a shot" at record deliveries/numbers and a very broad "there is no demand problem"

It was "decent shot". The last time he used that kind of language was for profitability in Q1, lol. Perhaps it sounded familiar to people. Decent shot is Musk speak for "completely impossible and we will miss our target". The exact quote was: "decent shot at a record quarter on every level. If not, it's going to be very close"

I am surprised Tesla dropped so much today. I was leaning slightly bullish although didn't see anything worth betting on. I think the negative market around tech and momentum tends to weigh pretty hard on things that have run up a lot, and Tesla was up 40 points/25% in 6 days trading. Not reading a great deal into today's big drop.

To clarify, I expected the language to be interpreted positively by enough bulls to keep the SP up, which in turn would keep bears buying or holding. I don't have any expectations that the fundamentals have improved.

he definitely mentioned fsd eoy and robotaxis in his presentation.
He said this year your tesla should be able to take you from your garage to work parking lot, but you'll need to supervise. next year won't require supervision. and end of next year will be robotaxis.

this was the first shareholder meeting I've ever watched.
i was amazed at just how casual his demeanor was as he made those claims. his tone implied (to me) that the biggest delay for the robotaxis will licencing stuff, red tape as opposed to tech.


That's fine if this is what he meant. Definitely not the simple reading though.

I've seen some stuff on twitter like this, but can you give sources for details? which convertible bond arbitrageurs did this? How do you know they opened up and possibly closed their short positions? How do you know it was the bondholders as opposed to equity holders?

I mean that's where the money for all equity capital raises ultimately come from -- the fact that a bunch of folks are collectively willing to pay a bunch of dollars to buy the stock of that company at a certain price. The exact nuts and bolts of who bought what how is only of interest to obsessive conspiracy theory-minded weirdos.

that's because he has _LITERALLY_ no idea how any of this works

that is absolutely ridiculous. it is neither obsessive, nor weird, nor even remotely consipracy theory-minded to be curious who exactly gave Tesla 2.7 billion in cash and why. and all the more so after it drops 30% immediately after.

and thanks for 2 posts clarifying that when people raise money other people give it.

OK so what's the significance of how the capital raise went down? Like I said earlier, keep these theories coming, they're great.

Listened to the shareholders meeting while working.
At parts it almost seems like a meeting of some sort of pyramid scheme company talking how to improve their PR.

Full of buzz words like mainstream media, false narrative etc.
Very circlejerkish presentation and almost no difficult questions.

https://empirefinancialresearch.com/...ok-at-the-deal