God created Elon Musk to be a supervillain but forgot to flip the last switch.

Twenty Grand

Pa ElGrande wrote: »

What about all the copper needed to build out the electricity grid to charge a large install base of electric cars and the Uranium for the power plants needed for the base load power to meet the new demand?

Maybe do some reading into what's actually required instead of showing your stupidity with comments like that.

smurgen

Rjd2 wrote: »

He can donate his money to whoever he wants, but a dude near 50 calling someone pedo guy, just no.

https://twitter.com/elonmusk/status/1018497953051258880

After seeing that i would start short selling Tesla stock.the man is either dumb or emotionally/mentally unstable

rafatoni

That diver will clean him out of a few quid after that comment.

Twenty Grand

smurgen wrote: »

After seeing that i would start short selling Tesla stock.the man is either dumb or emotionally/mentally unstable

There's so many people holding Tesla stock and waiting for the fall that there won't be a fall.

RayCun

Twenty Grand wrote: »

There's so many people holding Tesla stock and waiting for the fall that there won't be a fall.

That's ... not how stock trading works

Guy:Incognito

RayCun wrote: »

That's ... not how stock trading works

Buy high - sell low. Simples

Twenty Grand

RayCun wrote: »

That's ... not how stock trading works

That's...what's happening...

https://finance.yahoo.com/news/tesla-short-sellers-rude-awakening-152034055.html?guccounter=1

RayCun

Twenty Grand wrote: »

That's...what's happening...

https://finance.yahoo.com/news/tesla-short-sellers-rude-awakening-152034055.html?guccounter=1

That's ... not a site I can open.

If you think a stock is going to go down, you don't buy it. You sell it. And through the magic of the stock market, you can sell things that you don't own.

You don't even have to trade the stock itself, you can just trade futures.

Twenty Grand

RayCun wrote: »

That's ... not a site I can open.

If you think a stock is going to go down, you don't buy it. You sell it. And through the magic of the stock market, you can sell things that you don't own.

You don't even have to trade the stock itself, you can just trade futures.

Yahoo? Are you in China?
The stock isn't going down. It's going up. Near 40mil of 180mil shares are shorts, bought at a lower price. Prices keeps going up, they can't sell. So they're stuck. A huge portion of stock that can't be sold.

RasTa

Is it?

It's down $1 YTD

RasTa

Is it?

It's down $1 YTD

RayCun

Twenty Grand wrote: »

Yahoo? Are you in China?
The stock isn't going down. It's going up. Near 40mil of 180mil shares are shorts, bought at a lower price. Prices keeps going up, they can't sell. So they're stuck. A huge portion of stock that can't be sold.

You don't understand short selling.

Say Tesla is 100 dollars now.

I think it will go down, you think it will go up.

So I sell you 100 shares in Tesla.

I don't have 100 shares in Tesla to sell, but that's okay. I sell them to you at today's price, and you actually get them at an agreed point in the future, say the end of the month.

The way I expect to make money is to sell you shares at 100 dollars, but buy them at the end of the month for 90. And you're happy with the arrangement, because you are buying for 100, but you think by the end of the month they're going to be 110 and you'll have a bargain.

But the important thing here is, whether the price goes up or down, I only hold the stock for a couple of minutes before transferring to you. I can't get stuck holding stock, because I only buy the stock I need to meet my obligations.

Now, I could end up losing money on this, that's completely possible. But I can't end up holding stock I didn't want.

And my participation in the market doesn't drive the price up. Short selling depresses prices. If there are a lot of people trying to sell stock at 100 and only a few buyers, the price drops below 100.

Twenty Grand

I only know what I read. If you can give me a better explanation as to why Tesla stock isn't tanking then fire away.

smurgen

Twenty Grand wrote: »

I only know what I read. If you can give me a better explanation as to why Tesla stock isn't tanking then fire away.

Past performance is no guarantee of future performance.they had first mover advantage and didn't caputure a significant part of the EV market.now all the other car manufacturers are going making E.V cars.Tesla's future is bleak to say the least.

RayCun

Just to add, for a heavily traded stock like this, people don't even have to trade the stock, they can buy and sell put options.

So again, suppose I think Tesla will go down and you think it will go up.

I go to you and say, "here is a contract. This obliges you to buy 10,000 Tesla stocks from me at $100 on January 1. This is a one way contract, you can't oblige me to sell you shares at that price on that date, but I can force you to buy. Seems unfair? I guess, but if you sign this I will pay you $1000 right now."

We're both betting on the share price again, but neither of us bought any shares, and if the price goes up neither of us will.

RayCun

Twenty Grand wrote: »

I only know what I read. If you can give me a better explanation as to why Tesla stock isn't tanking then fire away.

Because enough people think they will eventually be profitable in more than one quarter, and eventually hit their production targets.

Twenty Grand

smurgen wrote: »

Past performance is no guarantee of future performance.they had first mover advantage and didn't caputure a significant part of the EV market.now all the other car manufacturers are going making E.V cars.Tesla's future is bleak to say the least.

100% agree. But nothing Musk or Tesla seem to do seems to permanently damage the share price.
It's up and down like a yo-yo in the short term, but rising in the long.

Franz Von Peppercorn

Guy:Incognito wrote: »

Buy high - sell low. Simples

Same as bitcoin.

Twenty Grand

RayCun wrote: »

Because enough people think they will eventually be profitable in more than one quarter, and eventually hit their production targets.

When people believe a stock is worthless, they sell it short. In the middle of June, TSLA stock had short interest of over 37 million shares. The company has only 170 million shares outstanding.

With over one-fourth of his stock sold at the current price in expectation, its price will fall, all Musk had to do was buy $10 million worth of shares to create a short squeeze. That’s just what happened after another annual meeting/magic act. The share price went up to force the shorts out.

If people weren’t betting so heavily on Tesla’s collapse, the company’s stock would fall because of its failure to meet its production targets. But because so many people are selling short, the Tesla stock price continues to rise.

Franz Von Peppercorn

^

Not convinced

RayCun

", all Musk had to do was buy $10 million worth of shares to create a short squeeze. That’s just what happened after another annual meeting/magic act. The share price went up to force the shorts out.

If people weren’t betting so heavily on Tesla’s collapse, the company’s stock would fall because of its failure to meet its production targets. "

You literally just said that the company stock went up because Musk bought shares himself.

I just explained to you why short selling doesn't increase prices.

It's pretty basic economics really - when people are trying to sell something, the price of that thing goes down, and when people are trying to buy it the price goes up. Stocks are not a magical exception.

Twenty Grand

Franz Von Peppercorn wrote: »

^

Not convinced

Don't care. People have been saying for years the stock price will fall. It hasn't.
It will eventually, but that doesn't make you right.

Franz Von Peppercorn

Twenty Grand wrote: »

Don't care. People have been saying for years the stock price will fall. It hasn't.
It will eventually, but that doesn't make you right.

No I’m not convinced you understand what shorts or short selling is. I don’t care about Tesla.

Dohnjoe

Well Elon has really gone and done it now - he's gone on a twitter rant and accused one of the key rescuers (British diver) of being a "pedo"

https://www.independent.co.uk/news/world/asia/thai-cave-rescue-elon-musk-british-diver-vern-unsworth-twitter-pedo-a8448366.html

This part here is telling

He then added: “You know what, don’t bother showing the video. We will make one of the mini-sub/pod going all the way to Cave 5 no problemo. Sorry pedo guy, you really did ask for it.”

prinzeugen

Dohnjoe wrote: »

Well Elon has really gone and done it now - he's gone on a twitter rant and accused one of the key rescuers (British diver) of being a "pedo"

https://www.independent.co.uk/news/world/asia/thai-cave-rescue-elon-musk-british-diver-vern-unsworth-twitter-pedo-a8448366.html

This part here is telling

I hope the diver sues the arse of him for that. Its just more proof that Musk is a wanker.

He is just pissed that they didn't use his sub. Musk was only there for the PR anyway.

The sub wouldn't have worked anyway.

Submarines only work underwater and not all the cave was flooded. So some poor sods would have had to drag the thing along the ground. Divers have said the oxygen lines were dangerous as well. If one got burst on a rock then there would be no way of getting air to the kid inside.

statesaver

Fúck sake, he just went and slandered a hero and Thailand all in one go.

_Dara_

Dohnjoe wrote: »

Well Elon has really gone and done it now - he's gone on a twitter rant and accused one of the key rescuers (British diver) of being a "pedo"

https://www.independent.co.uk/news/world/asia/thai-cave-rescue-elon-musk-british-diver-vern-unsworth-twitter-pedo-a8448366.html

This part here is telling

What. A. Weirdo. And he actually doubled down briefly before deleting the tweet (and the double down).

His getting involved was a good thing overall. The more help the better. But he seems to have lost sight of the fact that 13 lives were at stake. This wasn’t a game. Nobody was trying to “win” here by having their method used. They evaluated all possibilities and went with the thing that had the best chance of working.

Danny Donut

Dohnjoe wrote: »

Well Elon has really gone and done it now - he's gone on a twitter rant and accused one of the key rescuers (British diver) of being a "pedo"

https://www.independent.co.uk/news/world/asia/thai-cave-rescue-elon-musk-british-diver-vern-unsworth-twitter-pedo-a8448366.html

This part here is telling

Yep, Elon really has jumped the shark with that one.


Part of me thinks that you don't get to being Elon Musk without being slightly touched in the first place. Listening to advice and getting on with everyone are probably not his strong suits.

listermint

Bit of a random Slur though

_Dara_

listermint wrote: »

Bit of a random Slur though

Very random. And he knows it, hence the deletion. Wonder will yer man sue?

Danny Donut

_Dara_ wrote: »

Very random. And he knows it, hence the deletion. Wonder will yer man sue?

I do hope so

DeanAustin

_Dara_ wrote: »

Very random. And he knows it, hence the deletion. Wonder will yer man sue?

I found it absolutely incredible. If Twitter shows one thing it’s that even the rich and powerful have clowns and arseholes within their ranks.

Musk’s treatment of analysts at the last Tesla results call also showed that his ego has swallowed him whole.

RasTa

He will definitely be suing.

Birneybau

listermint wrote: »

Bit of a random Slur though

I guess Thailand has a bit of a reptutation.

But so do White South Africans...for being cnuts

_Dara_

DeanAustin wrote: »

I found it absolutely incredible. If Twitter shows one thing it’s that even the rich and powerful have clowns and arseholes within their ranks.

Musk’s treatment of analysts at the last Tesla results call also showed that his ego has swallowed him whole.

Plus, taking another guy’s intellectual property and calling the guy lame for wanting to be paid.

https://www.google.ie/amp/s/amp.theguardian.com/technology/2018/jun/27/elon-musk-farting-unicorn-mug-cartoon-tom-edwards

Looks like he's lost the plot. Twitter is the death of some people.

professore

Twenty Grand wrote: »

Maybe because nearly all manufacturers have 100 years and billions of dollars invested in ICE technology. Maybe it's because ICE is all they know how to build? Maybe because all their business models, R&D, and manufacturing is based on ICE and not on EV. Maybe because all their garages, maintenance and salespeople havent a notion on EV?
Maybe because the technology isn't quite mature yet? Maybe because it's easier to do what you know than what you don't?

But they're all looking at it. They're all investing. They're all looking for their niche and they're all looking at Tesla get an unprecedented interest in a technology they had written off decades ago.

The same way the mainstream media STILL haven't figured out how to make money out of the internet. The same way the music industry handed their whole profits over to Apple. These are stodgy unimaginative businesses. I have a motorcycle from 1997 that is more reliable and uses better engine tech than a 2018 model. That shows you the kind of "progress" they have. They stick blue or somesuch on their cars but in reality the improvements are cosmetic, or a step backwards in reliability like common rail diesels or added electronic sensors - the sensors not working are a bigger problem than what they are supposed to detect isn't working.

professore

Just caught up on this thread.

The diver "pedo guy" WTF? He must have Aspergers to be that socially inept. I guess divorcing and later remarying the same woman was a clue.

He's a very intelligent guy but this is nuts.

Stone Deaf 4evr

I often wonder when we'll reach the tipping point and people realise that social media isn't all its cracked up to be. Putting every random thought that enters your head out for the consumption and criticism of the worlds population sure seems like a recipe for disaster.

Hector Savage

He really let himself down there ...

Ri_Nollaig

Stone Deaf 4evr wrote: »

I often wonder when we'll reach the tipping point and people realise that social media isn't all its cracked up to be. Putting every random thought that enters your head out for the consumption and criticism of the worlds population sure seems like a recipe for disaster.

Seems like ?!?!?!

Its unreal, I guess one way it can often show what some people are really like. For better or worse.

Stone Deaf 4evr

Ri_Nollaig wrote: »

Seems like ?!?!?!

Its unreal, I guess one way it can often show what some people are really like. For better or worse.

yeah, We badly need a 'this is bleedin obvious' font.

Trasna1

RayCun wrote: »

", all Musk had to do was buy $10 million worth of shares to create a short squeeze. That’s just what happened after another annual meeting/magic act. The share price went up to force the shorts out.

If people weren’t betting so heavily on Tesla’s collapse, the company’s stock would fall because of its failure to meet its production targets. "

You literally just said that the company stock went up because Musk bought shares himself.

I just explained to you why short selling doesn't increase prices.

It's pretty basic economics really - when people are trying to sell something, the price of that thing goes down, and when people are trying to buy it the price goes up. Stocks are not a magical exception.

I thought a short position was you essentially rent a stock from a holder, sell it, then buy it back when the rental term ends and hope the price has fallen. You then pocket the difference, less the rental fee.

If Tesla is being heavily shorted, then the market is going to be flooded with rented stock for sale, hence depressing the price.
But the price hasn't fallen...

Muahahaha

listermint wrote: »

Bit of a random Slur though

Wasnt it just. I had a reasonably neutral opinion on Musk but calling someone a pedo seems to be a signal he is losing it. If I were an investor Id prefer the CEO only uses Twitter for announcing good company results and stays away from defaming randomers on it.

Also the diver he called a pedo mapped the entire cave for the dive rescue team. If anyone knows why a submarine wouldnt have worked in that subterrain it is him.

Fart

Maybe he meant to say "Speedo", which is what he was probably wearing when diving.

Jim Bob Scratcher

I think he also followed on that tweet by saying something along the lines "it will come out about the person"

Perhaps he has something on him? or it's bull****

RayCun

Trasna1 wrote: »

I thought a short position was you essentially rent a stock from a holder, sell it, then buy it back when the rental term ends and hope the price has fallen. You then pocket the difference, less the rental fee.

If Tesla is being heavily shorted, then the market is going to be flooded with rented stock for sale, hence depressing the price.
But the price hasn't fallen...

You don't rent stock. You could buy stock from someone, and they could buy an option on that stock to rebuy at a date in the future. But that's more complicated than short selling.

If Tesla is being shorted, that means there are a lot of people selling the stock. That will exert downward pressure on the stock. But there could be more people who think Tesla will eventually get things right and so want to buy the stock. And the other poster said Musk bought a load of stock himself.

strandroad

Jim Bob Scratcher wrote: »

I think he also followed on that tweet by saying something along the lines "it will come out about the person"

Perhaps he has something on him? or it's bull****

It's bull****. He was going after him purely because the man lives in Thailand which was "suspicious". Then he doubled down as in "I bet it's true". I hope the diver sues him to hell. It was actually this diver who thought to bring the British team over to help; he delivered a working solution unlike Mr Musk.

Discodog

The diver lives near the cave & knew it well before the rescue. That's why he played such a critical part. Musk is saying that any expat, who lives in Thailand, is a Pedo.

But the Elon fan club will defend him whatever he says - just like Trump supporters

_Dara_

Muahahaha wrote: »

Wasnt it just. I had a reasonably neutral opinion on Musk but calling someone a pedo seems to be a signal he is losing it. If I were an investor Id prefer the CEO only uses Twitter for announcing good company results and stays away from defaming randomers on it.

Also the diver he called a pedo mapped the entire cave for the dive rescue team. If anyone knows why a submarine wouldnt have worked in that subterrain it is him.

Remember Musk saying that another guy involved in the rescue wasn’t the “subject matter expert”. Urgh, business jargon. And does he not get that all kinds of strands of expertise had to be woven together? And some of the downsides listed for his substitute submarine were common sense. It wouldn’t fit the tights squeezes, the exhausted divers would have to carry it for certain portions, it wasn’t well tested and could run into teething problems.