Bill Gates Shorting Tesla Stock - 500 Million
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Fidelity slashes the value of its Twitter stake by over half | TechCrunch
Fidelity, one of the backers of Elon Musk's acquisition of Twitter, has halved the value of its shares in the social network, according to a memo.
techcrunch.com
Questionable investment for a mutual fund.Fidelity slashes the value of its Twitter stake by over half | TechCrunch
Fidelity, one of the backers of Elon Musk's acquisition of Twitter, has halved the value of its shares in the social network, according to a memo.
Bills going to be the richest man in the world again thanks to elon.
Tesla short sellers appear - for the first time in the company's history - to finally be in control. One of the most highly shorted names since its inception, Tesla has done well to prove both skeptics and short sellers wrong.
The company's stock is still up almost 500% over the last five years - but 2022 saw a -65% drop in the equity's price which has short sellers feeling like they are back in the driver's seat. And according to Yahoo Finance/Bloomberg, short sellers have reaped mark to market profits in 2022 of about $17 billion.
Citing data from S3 Partners, the report said that Tesla has lost about $670 billion in market value this year alone. Ihor Dusaniwsky of S3 told Bloomberg that he "expects short selling to persist until the stock reaches a bottom". Astute analysis, Ihor...
"When Tesla’s stock begins to tick upwards, there should be a flurry of short covering which will help boost its stock price higher and quicker as shorter-term short sellers look to realize their outsized mark-to-market profits before they evaporate,” he added.
Short interest in Tesla has always been elevated and this year's move in the stock has emboldened long-term skeptics. The report noted: "At one point in 2018, more than one third of the stock’s entire free float was held short."
Among those on the receiving end of the windfall are many shorts who got trounced with Tesla's move higher between 2019 and 2022. But at least for now, they appear to have the upper hand.
Recall, Tesla surged once again at the end of last week after Morgan Stanley's Adam Jonas was out lowering his price target on Tesla stock from $330 to $250, but maintaining his overweight rating on the name and arguing that the recent selloff in the name has created an "opportunity".
"We believe 2023 is shaping up to be a 'reset' year for the EV market where the last 2 years of demand exceeding supply will be substantially inverted to supply exceeding demand. Within this environment, we believe players that are self-funded (non-reliant on external capital funding) with demonstrated scale and cost leadership throughout the value chain (from manufacturing to up-stream material supply) can be relative winners," Jonas wrote.
"We believe Tesla may bein position to extend its lead vs. the EV competition in FY23 (both legacy and start-up) even before consideration of IRA (Inflation Reduction Act) benefits where Tesla also stands out as the biggest potential winner," he continued.
We'll have the next chapter in the Tesla drama show soon, as the company is expected to report its Q4 deliveries in the first few days of January.
Tesla’s China Deliveries Fell Sharply in December Despite Discounts
Tesla’s December deliveries dropped by about 20% from the same month in 2021 and were a little more than half of those made in November.
www.wsj.com
He said before he was fine with killing subsidies entirely (having made what he can from them under the existing laws).
What he’s opposing here are subsidies that would benefit his competitors over him based on a formula designed to funnel more tax money to union controlled businesses.
The giveaways are going to happen regardless at this point, he’s trying to prevent his business from being competitively disadvantaged by Uncle Sam putting his thumb on the scale for other manufacturers.
He may be kooky, but he is a business owner. He has to speak to what benefits his business and mix in a bit of altruistic behavior into the plan. He SHOULD be fighting for the competitive advantage he created for his business and he SHOULD be fighting against the govt trying to undermine that, esp if they create a disadvantage to his company's forward thinking investment.
Perhaps another solution is to come to consistent plug technology (or conversion units), but that is going to be a hard sell, look at phone charging plugs as a simple existing issue.
I agree with you, he has legit beef here, but ultimately the "good of the majority" will win out and I think he loses this.
I’m torn on this idea, because I’m afraid standardizing may unduly retard development. Thinking of the posts about Tesla’s new charging tech associated with their semi and apparently to be offered with their truck that is supposed to tremendously boost charging speed.
I’m assuming by ‘good of the majority’ you mean EVs will be subsidized, but Musk’s contention is the political considerations guiding the subsidy mean we pay Ford to build EVs in Mexico instead of subsidizing workers here that simply may not be in a union (that just happens to disproportionately support one political party).
I love the reply
Elon Musk confirmed leaked texts show him turning down a philanthropic opportunity with Bill Gates after asking the Microsoft founder if he was shorting Tesla
"I cannot take your philanthropy on climate change seriously when you have a massive short position against Tesla," Musk told Gates, per the texts.finance.yahoo.com
Sure, and whomever has the best functionality now, could be able to "bid" and drive the standard. We have standardizations all over the place. Your electric plugs for laptops vs stoves vs tv vs petrol types, etc etc etc. To fit within an integrated network, connection to the network needs to be standard. Heck, with the new charging blocks, most phone companies can now show an integration unit OFF the phone to plug to the wall so they don't even have to change the phone plug itself, just the way the phone plugs into a convertor (the charging block which is now universal). I don't think it hampers th other 100+ areas on a vehicle where the true development and diversity is most valuable. Create a block that is standard and all must be able to plug into that (obviously its more complex for charging a car than phone) but I remember the days before a charging block, that was infuriating.
"Majority of the good" - benefit of pollution reduction and lowering the cost of building out the infrastructure to all. EVs specifically should be subsidized because of the global impact, however, that should be a global effort and preferably the subsidy by a govt should be given to encourage local growth. Funny thing with subsidies, even if a car is made oversees with govt subsidy, the local purchasers see the benefit of that lower labor cost in the final price, so it isn't all lost. But that is an entire discussion unto itself. Everyone on this board will die and still see gas vehicles on the road. But the overall good is to get away from ICE because it will signal that all other industries will have to change. Cars are small and individually far from the worst offenders, but they are the first chip to fall and collectively they do make a negative difference. This also means they collectively can make a large beneficial difference. With the life span of a POV, they are an easy place to start VS telling the global shipping industry all cargo boats must change. But, govts and agencies have to start somewhere. Cargo ships cost $200M and have a lifespan of 25-30 years, much longer than a standard auto of 12 years. But the standards and burden should be placed on all companies and force improvement to all companies. If only there was a multi-country agreement that was intended to drive these changes. Feels like the French capital would have been a good pivot point for that accord. However I do think we collectively have missed the boat on forcing other industries to reduce their environmental impact.
Im rambling, I have to get to work.
TLDR
good of the majority means global benefit of pollution reduction
standardization is easy to accomplish in any other number of integrated networks.
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This is a good portion of the car market. Tesla totally screwed their past customers with the price drop, but used cars are tanking everywhere.
My truck is down 20% in resale in the past three months. After almost three years of being over what I paid for it.
Pipe-wielding Tesla driver violently attacks vehicles on Southern California freeways
More come forward with SoCal road rage reports involving same man
More come forward with SoCal road rage reports involving same man
It’s fully self driving. Why do you need a steering wheel?
It's great we are now getting tiktok media personalities to weigh in on locating people's name to solve cases and as part of news reports.
Sarcastic about "tiktok media personality", pretty cool about the crowdsourcing of information. Seems that second part is what the internet is intended to be.
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