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What Elon believes the requirements are and what the legal requirements are two different things. Not to mention that Tesla failed to file an 8k form in a time
by u10 8y ago
What Elon believes the requirements are and what the legal requirements are two different things.
Not to mention that Tesla failed to file an 8k form in a timely manner, and when it was finally filed it clearly showed that funding had not been 'secured' under any reasonable definition.
- AndrewBissell 8y agoThe idea Elon Musk "believed in his mind" that funding was secured is pure sophistry. He has done hundreds of fundraising rounds in his life and knows the various stages involved in intimate detail. He was obsessed at the time with squeezing shorts and probably thought he could touch off a VW-style spike in the stock. Ironically, by capping the upside at $420, he presented shorts with one of the best risk-reward profiles in the stock's history, and that days intraday high has never been seen since.
- loceng 8y agoSo let's do an exercise. You have someone you trust someone's word, they tell you they're going to pick you up at X time and Y location. Do you trust them, why do you trust them? So now, why can't this same scenario exist for Elon and someone, say Saudi money, for securing funding - someone saying they will give you all the money he needs to take Tesla private? You're presenting no proof it was a fallacious statement from him, based on his belief of what funding secured meant. You're also presenting a very one-sided argument. Elon also yes "hates" - so arguably it makes at least equal sense, if not more, that he'd legitimately want to take Tesla off the stock market.