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this post was submitted on 20 Aug 2024
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He said it perfectly. There are sell off plans.
If not only Musk but also the banks are stuck in this problem, it's their own fault and incovenience. Not sure why you ignored his completely verbose explanation of how this problem is only Musk's (and maybe the banks he made the deal with).
Talking about individuals/market makers and their bots panic selling the stock is ridiculous, and subverts the idea of a free market. And as you say, the company's value barely reflects it's output, so it should happen, and it is odd that it didn't.
That's the thing, the banks fear it will be their problem. They don't care about Tesla as a third party, but themselves.
I'd love Musk to get fucked by this whole ordeal. This was rather about if the creditors allow it or of they're afraid of the fallout.
And you're right, it won't be all instantly sold, but it is a large amount of shares and I'd think it would have a negative impact on share price.
I guess it's possible. But to me it sounds too much like an extra conspiracy. The banks could just sell off the stock (give zero fucks about other banks), and then force Musk to liquidate.
So, if his divestment of such a large amount shares in either company would have a negative impact on stock price, wouldn't the other share holders have a say in the matter? They typically frown upon someone acting in a manner that will devalue their share prices. I'm honestly asking bc I don't know the ins and outs, but I would assume that if Elon were to just try and sell shares to pay off his problem the pitch forks are going to come out from other share holders.
Also, wouldn't the banks potentially be in a conflict of interest? Presumably those institutions who gave him the loans have invested clients money into those stocks potentially? Again, just asking the question, bc this seems like a major boondoggle that could really fuck over a lot of people in a variety of ways.