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Elon Musk tweet wipes $14bn off Tesla's value
- zozbot234 6y agoDiscussed earlier https://news.ycombinator.com/item?id=23043771 https://news.ycombinator.com/item?id=23043771
- unstatusthequo 6y agoI have to wonder if his tweets are actually pre-screened per the prior SEC violation settlement. Sure seems like not with something like this appearing.
- clouddrover 6y agoThe Wall Street Journal says: > Asked later if the tweet was vetted or made in jest, the CEO said: “No.” https://www.wsj.com/articles/tesla-stock-falls-after-ceo-tweets-stock-is-too-high-11588348672 https://www.wsj.com/articles/tesla-stock-falls-after-ceo-twe...
- _Microft 6y agoI am selling almost all physical possessions. Will own no house. — Elon Musk (@elonmusk) May 1, 2020 Did his fortune cookie say "When you can not be free to do things, be free from things instead" or what? >< His vision for and achievements with both Tesla and SpaceX are amazing but I am afraid that one day one of these shenanigans will be his undoing which would be pretty sad because I really want to see Mars colonization happening.
- sk5t 6y agoA fortune cookie is one possibility, or perhaps this particular fortune was written on blotter paper.
- 2019-nCoV 6y agoOnce you reach Musk levels of wealth can you imagine how paralysing possessions are? Most become enamoured with distractions as their means rise. But instead of choosing colours for the kitchen renovation or which BMW defines them as a person, we're talking about how many sprawling villas to build and which private tropical island to buy to build them on. An ascetic approach will increase the odds of Musk seeing Mars in his lifetime.
- hobofan 6y ago> An ascetic approach will increase the odds of Musk seeing Mars in his lifetime. I doubt the few millions he would make from selling possessions make a big difference when compared to the billions in Tesla and SpaceX.
- _Microft 6y agoYour parent comment is saying that reducing cognitive load by parting with things irrelevant to the goal of reaching Mars will improve the odds of success.
- yongjik 6y agoWow, I just visited https://twitter.com/elonmusk https://twitter.com/elonmusk and... "Tesla stock price is too high imo" is one of the tamer tweets. > I am selling almost all physical possessions. Will own no house. > Now give people back their FREEDOM > Rage, rage against the dying of the light of consciousness (OK, the last one is apparently a quote from a poem, still...) Sound more like tweets of a Hollywood celebrity who had one too many glasses of martini...
- dogma1138 6y agoHe is more like a rogue chat bot that was trained on 4chan at this point.
- jariel 6y agoClearly he's having a lot of fun and saying wierd things - which is fine. But the Tesla statement is way crazier than the rest because it's a material statement about the potential future earnings of the company. Musk is a 'deep insider' who knows 'everything' about the company. When he says 'the stock is overvalued' - what does that really mean? Did Tesla just lose a huge market? Was there a big accident we don't know about? Is there some huge hidden liability? Are sales forecasts way down? Did a deal fall through? Are they getting sued? He's the CEO so those statements really matter. I think we can give him a lot of leeway and expect that he say some funny things. But when people give him billions of dollars ... he can't mess around with that, it's irresponsible. Especially since he's already in trouble with the SEC. It eats away at his credibility.
- sneak 6y ago> But the Tesla statement is way crazier than the rest because it's a material statement about the potential future earnings of the company. The tweet does not say anything material about earnings past, present, or future. Your statement is a false one.
- jariel 6y agoValuation is a function of future earnings. Saying something about the 'stock price' is 100% saying something about the financial situation of the company.
- aaaxyz 6y agoDoes anyone still take anything he says seriously?
- clouddrover 6y agoYes. He has many ardent followers who take what he says to heart.
- giarc 6y agoYes, he's been spouting off about the deaths from COVID being artificially inflated and I see a ton of people starting to agree with him.
- dwaltrip 6y agoDespite occasionally saying crazy or downright offensive things, his company was the first to ever land a orbital rocket booster, which is an incredible feat that is hard to understate. And it looks like they may be the first to build a fully reusable rocket, which could change humanity's relationship with space forever. And he also runs the first new automobile company to successfully establish itself in many decades. Clearly, like most absolutist positions (cue "only a sith..." quote), disregarding everything he says would be foolish.
- joshstrange 6y ago> "We view these Musk comments as tongue in cheek and it's Elon being Elon. It's certainly a headache for investors for him to venture into this area as his tweeting remains a hot button issue and [Wall] Street clearly is frustrated," I'm sorry, whose fault is it that Wall Street react to tweets? I mean really, If I'm long on Tesla (I'm not, I own none of their stock unless it's somehow tied up in my 401K) am I selling all my stock because Elon said he thinks it's too high? No, that would be stupid. Sounds like day traders/HFT's are the ones that choose to react to this stuff and then get burned and I have zero compassion for that. Live by the sword...
- arcticbull 6y agoThat's a totally fair point. Seriously, how many TSLA investors don't know who Elon is, how he acts, or his ongoing settlement with the SEC over tweeting?
- jariel 6y agoIt has nothing to do with Wall Street or Tweets. It has to do with insiders and public information regarding a publicly-traded company worth many billions of dollars. Musk has an agreement with said investors and is bound by a bunch of rules he has agreed to. He's a fool and it could really hurt him someday. He really needs to stop tweeting about the stock.
- gowld 6y agoElon Musk is the CEO of a publicly traded company, with all the rights and responsibilities that entails. He can take the company private and delist the company if he doesn't want to follow the rules of the stock market. Koch Industries, for example, is privately held.
- daxorid 6y ago> whose fault is it that Wall Street react to tweets? He's not permitted to tweet anything that may materially impact the stock without prior board or general counsel approval, per his contempt agreement. Obviously Jay Clayton is going to let him get away with it just like his prior violation of the Consent Decree, but for the brief period of time that the market forgets the SEC is toothless when it comes to Musk, this is nominally a big deal.
- Barrin92 6y agoThe Deus Ex profile pic is appropriate because I'm increasingly unsure if Elon Musk isn't doing some kind of decade long performance art piece as a real-world Bob Page.
- majkinetor 6y agoPeople should really get a life and let other people be on twitter or anywhere else. Get a fucking life.
- crazygringo 6y agoPlease note the HN guidelines: > Be kind. Don't be snarky... When disagreeing, please reply to the argument instead of calling names. "That is idiotic; 1 + 1 is 2, not 3" can be shortened to "1 + 1 is 2, not 3." https://news.ycombinator.com/newsguidelines.html https://news.ycombinator.com/newsguidelines.html
- majkinetor 6y agoThat was kind... to Elon. I didn't call names it was general note. There is nothing unkind in this type of swearing, its just honestlly expressed thought.
- crazygringo 6y agoWait... ...again?!?! After his SEC agreement expressly requires him to have his tweets vetted first, and he didn't? What is the man thinking. He's not an idiot. Is he self-destructing? Does he have the impulse control of a 5-year-old? He's going to lose his position on the board, for real. And he deserves to at this point. When you run a publicly traded corporation, there are rigorous rules about what you can and cannot say, and when, to ensure a fair playing field for investors. The same way there are rigorous rules against insider trading. If he wants to act irresponsibly, then he should have kept Tesla a private company. Seriously. The guy is simply not exhibiting the mental self-control to run a publicly traded corporation. It's becoming clear he simply can't do the job as is required, no matter how smart he may otherwise be.
- jlengrand 6y agoWhat is the man thinking. He's not an idiot. Is he self-destructing? Does he have the impulse control of a 5-year-old? He's going to lose his position on the board, for real. -> You mean, like the man that runs the country he lives in ? :)
- osrec 6y agoHad you mentioned the man that "runs" your country by name, I assure you, you would have been downvoted. Almost as if bots are monitoring this forum, and downvoting anything negative about their overlord. I dare you to try!
- perardi 6y agoGiven the little slap on the wrist from the SEC for his “we’re going private at $420, man, yeah, funding secured” outburst, he will face no repercussions for this, and this’ll all be forgotten.
- cryptica 6y agoMaybe Elon is regularly scaring speculators away from Tesla stock so that only strong believers remain. Strong stock holders allow higher P/E ratios.
- mcbrit 6y agoThe environment is unimaginably stressful. Close your eyes for a moment, and imagine the voices. It's possible tomorrow that he wakes up, and gets on with it. It being: well, he's pretty much defined what it is over the past 10+ years. It's humbling and exciting. He is the best of us. I hope that happens.
- aaomidi 6y agoWhat
- mcbrit 6y agoReally. No traps here. Close your eyes, imagine the voices. But fame, so really /loud/ voices.
- aaomidi 6y agoYes the voices that says don't be an ass to your workers and stop manipulating the market?
- ntsplnkv2 6y agoYes, it must be tough with all those voices. Must make it really hard to count those billions while people can't pay rent next month and actually will have to sell their house or get evicted...
- thebruce87m 6y ago
- LeoNatan25 6y agoI was hopping this followed his retarded "FREE AMERICA NOW" tweet, but of course, how naive of me.
- deleted 6y ago[deleted]
- archibaldJ 6y agoIt makes more sense if this is viewed as Musk's way of manipulating the mainstream media into paying attention to his reopening stance and in the process change public opinion about the reopening perhaps. Losing some stock valuation with possible SEC fine is a small price to pay if the states do get reopened sooner and people are happily back to work again and the economy at least somewhat goes back to normal. He can tweet as if he has gone mad or something. In one way or another it's all a facade. I would buy more into this possibility than that he is unaware of the consequences of his tweets or is actually in some sort of mentally unstable state right now. All look very theatrical for me. The "my girlfriend is mad at me" part actually made me snicker a little. I think that is something many people can relate to. Also, there appears to be more americans joining the reopen camp as the whole debate shifts to freedom vs authoritarian. Or you can also argue that he is being irrational in a rational way.
- zozbot234 6y agoPerhaps. Or maybe he's just having his covfefe moment. I mean, it could happen to anyone. Twitter is weird like that.
- esoterica 6y agoI don’t think acting like a crazy person screaming on the street corner is the best way to persuade people that your ideas are smart and rational. It’s not like he needs to draw attention to the cause, there is literally no other issue besides virus occupying the public imagination right now. You seem very desperate to find any excuse, no matter how preposterous, to justify Musk’s behavior. Why is that the case?
- archibaldJ 6y agoIt is to evoke empathy.
- kalium-xyz 6y agoIs this this what mainstream appeal is now?
- notastudent 6y agoWow, everybody here seems to talk about first amendment, stock price and whatnot, completely ignoring the content of his statement. Hes a billionaire who wants his workers to get back to work, irrespective of their health. Dafuq. HN is such a boot licking community sometimes. Go ahead, downvote me