Elon Musk: Always A Douche

[Josquius]

Given the wide reporting it the twitter resignation poll, integrated in BBC news et al, I suspect Musk plans to do this and is looking to legitimise it in a way where he can claim to be a good fair guy who was ousted by outsiders?
I guess he will get some data on which accounts vote which way.

Calling Tesla a pump and dump is silly.

Stoke and broke?

[Razgovory]

Feed and Seed.

[Syt]

Well, there's a lovely couple, at the World Cup final:

[Syt]

 

[mongers]

Well, there's a lovely couple, at the World Cup final:

It's like they don't understand at all what's happening.

[viper37]

I think the Saudis yanked the chain and Elon will be out as CEO of Twitter soon. He's currently running, and losing, a poll where he asked if he should resign as CEO of Twitter. I think it's all a cover for what he's being forced to do anyway. Maybe he'll be out at Tesla, too, if their stock price continues its freefall. I'd love for this ego trip to land him in the poorhouse. He most definitely is deserving.

https://finance.yahoo.com/news/tesla-no-working-ceo-stock-225039462.html

[...]
On Wednesday, Leo Koguan, one of Tesla's largest individual shareholders, called for a leadership change, tweeting: "Elon abandoned Tesla and Tesla has no working CEO. Tesla needs and deserves to have working full time CEO."
Leo said someone more focused on the operational side of the company, similar to Tim Cook at Apple, should take over the company. Cook became Apple CEO after the death of co-founder Steve Jobs, who like Musk was strong on the visionary side.
"Elon is a mere hired hands," Leo added. "He is our employee...Elon was the proud father, Tesla has grown up. An executioner, Tim Cook-like is needed, not Elon."
Tesla investor frustration
Leo's comments were in sharp contrast to ones he himself offered in January, when he tweeted, "Tesla bulls, the future rainbow are here and now. Smile to your fortunate self."
At that time, Tesla had a market cap of $1.2 trillion and ranked among the world's most valuable companies. On Wednesday, its market cap dropped below $500 billion for the first time since Nov. 23, 2020.
"For investors, the clock has struck 12. Frustration has massively built, and Musk appears to be doubling-down, not backing away," Wedbush Securities analyst Dan Ives told CBS MoneyWatch.
Ives believes Musk overpaid for Twitter by about $20 billion and needed to tap into his Tesla shares to pay for the acquisition.
"One of investors' bigger concerns is that Musk is using Tesla as an ATM machine," Ives said. "That has been a massive overhang on Tesla's stock."
Another concern is that Musk's perceived lean toward far-right beliefs on Twitter could translate to left-leaning car buyers avoiding Teslas. They'll certainly have more options, with more automakers piling into the EV space. S&P Global Mobility recently predicted that Tesla's market share in the U.S. will drop from 65% this year to below 20% by 2025.
Gary Black, managing partner of the Future Fund and a Tesla shareholder, tweeted on Wednesday about Musk: "He will realize soon (if not already) that his polarizing political views are hurting customer perceptions of $TSLA EVs. Customers don't want their cars to be controversial. They want to be proud as hell to drive them — not embarrassed."
[...]

[Admiral Yi]

Stoke and broke?

Where's the stoking?

[Admiral Yi]

Did anyone vote in the poll?

[The Minsky Moment]

I don't think it is a controversial statement to say that:

1) Tesla valuations got quite frothy over the past 2 years
2) Musk happened to sell TSLA stock at those high valuations
3) TSLA stock has declined significantly as the Musk-Twitter drama has played out.

[Barrister]

I don't think it is a controversial statement to say that:

1) Tesla valuations got quite frothy over the past 2 years
2) Musk happened to sell TSLA stock at those high valuations
3) TSLA stock has declined significantly as the Musk-Twitter drama has played out.

I don't think that controversial at all.

I think what Yi was objecting to was a notion that this was all done deliberately by Musk to have that effect.

[Valmy]

Did anyone vote in the poll?

No. I am not an enabler for attention whoring.

[Admiral Yi]

I don't think it is a controversial statement to say that:

1) Tesla valuations got quite frothy over the past 2 years
2) Musk happened to sell TSLA stock at those high valuations
3) TSLA stock has declined significantly as the Musk-Twitter drama has played out.

The frothiness of Tesla is debateable.  Pre tightening bear market (I think it was before the most recent split) I saw an analyst on MSNBC talk about his firm's valuation of Tesla at $930 a share based on sales projections of X.  I did the math on that came up with IIRC a PE of 24.

But my main objection to pump and dump is that it requires a malicious actor to "talk up" the share price based on false information.  That is the missing element.

Now I concede the one time way way way back when Elon tweeted about the "firm offer to take Tesla private at such and such price" does fit the definition of talking up the price based false information.  But to take an action 10 or so years ago and sales of shares in the present as constituting a pump and dump is specious.

Elon is deeply unpopular at the moment.  He may be an awful person.  I oppose making false claims about awful, unpopular people.  I support true statements about everyone.

[Valmy]

I think the idea that Elon is intentionally tanking the stock of a company he is CEO of is ridiculous. I think he stood to make far more money by having the stock stay high.

Trying to make any logical business sense, either ethical or criminal, out of Musk's erratic behavior is a fools errand because he has been acting like a fool.

[Admiral Yi]

https://www.youtube.com/watch?v=9LnT699vUB0

Live stream titled I'm resigning as CEO of Twitter and then the stream is talking about bitcoin.  At least right now.

[Valmy]

Bitcoin? 

Ah well. You had a good run as CEO. Came in and fired everybody for no particular reason and then left.