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Tesla is under a federal wire fraud probe for misleading investors

arstechnica.com

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Re: Tesla is under a federal wire fraud probe for misleading investors

#31

Post by poniko »

nindalf wrote: post #19
poniko wrote: post #12

Got a feeling that this August is the last chance Elon has to show off a working believable robotaxi/FSD or the hammer will fall hard on Tesla. There are too many viable options for both electic cars and personal robots out there now.

No hammer is falling. Ultimately any American government loves the idea of an American manufacturer making cars in America too much. Nothing will happen to Musk because without him, Tesla would suddenly be valued as a car manufacturer instead of a fantasy land saviour of the entire world. I don't like Musk, but his distortion field is what keeps their stock price afloat.

Might be, but sales was slowing down in both EU and ASIA in April when the other manufactures had upticks, seems like the Tesla brand is loosing its appeal. A bad q2 and a FSD no-show will probably spook even the most bullish investors.

Re: Tesla is under a federal wire fraud probe for misleading investors

#32

Post by bilekas »

rubyfan wrote: post #21
ceejayoz wrote: post #17

Earlier quoted context omitted.

A way for foreign nationals to donate billions to a US presidential campaign legally.

The thing stinks to be sure but you need more evidence to make that claim.

Donald Trump's hotels and other businesses accepted more than $7.8m (£6.1m) from foreign governments during his presidency. This is not news.

Re: Tesla is under a federal wire fraud probe for misleading investors

#33

Post by [deleted] »

bilekas wrote: post #32
rubyfan wrote: post #21

Earlier quoted context omitted.

The thing stinks to be sure but you need more evidence to make that claim.

Donald Trump's hotels and other businesses accepted more than $7.8m (£6.1m) from foreign governments during his presidency. This is not news.

[deleted]

Re: Tesla is under a federal wire fraud probe for misleading investors

#35

Post by bilekas »

dboreham wrote: post #29
nindalf wrote: post #18

Earlier quoted context omitted.

This is factually untrue, easily disprovable by checking the chart over 3 months - https://www.cnbc.com/quotes/DJT . What are you going to do now? Claim that going from $66 to $22 isn't a crash?

Hey I'm no Trump fan but you're doing the same thing. Looking at the whole chart it clearly never crashed. There was a blip up for like one day that you conveniently picked as your high point and a day or so of driving price but overall given its a meme stock the price generally stayed about the same. Crash I'd define personally as 90% price collapse with no bounce back. What I see in the chart I'd call a significant…

65% is owned by 1 person so lets ignore that percentage for the purposes of describing a 'crash' as that 1 person wouldn't crash it themselves intentionally.

Now you're left with 35% for retail and institutional investors.

$66 to $22 is just under a 35% drop. Smells like a crash to me.

Re: Tesla is under a federal wire fraud probe for misleading investors

#37

Post by rsynnott »

pavlov wrote: post #4
pixelpoet wrote: post #2

And apparently stopping hiring: https://gizmodo.com/tesla-hiring-freeze-job-postings-elon-mu... I'd be dumping TSLA so hard right now if I owned any, has to be the world's most overvalued stock right?

> "the world's most overvalued stock" There's always Trump Media & Technology Group Corp, ticker DJT. $6.5 billion market cap. Annual revenue $4 million (that's an "m"). It's a social media company that doesn't reveal any usage numbers or other KPIs. The company's auditor was just revealed by the SEC to be a complete scam with 100% fraudulent audits. So why would anyone buy this? Well, it's 65% owned by a presidentia…

The Trump stock is almost the platonic ideal of a meme stock; just a stock ticker for people to gamble on, without the inconvenience of an actual company attached to it.

Traditional meme stocks (GameStop, Bed Bath and Beyond, AMC, arguably Tesla) have a large, poorly-run company attached, which is really extraneous to the stock's core purpose, that of ensnaring day-traders.

I mean, it's _possible_ the Trump one is driven by the bribery angle, but common things being common it may just be a very compelling meme stock, sharing as it does the name of a meme president.

Re: Tesla is under a federal wire fraud probe for misleading investors

#38

Post by resource_waste »

yoran wrote: post #8
resource_waste wrote: post #3

When Tesla entered the fortune 500 and my SPY stock bought it, I was enraged that someone could swindle their way into auto-buys. Genuinely not sure what to think of the stock market/index funds since that happened. I'd like to get some sort of compensation that is GREATER than my cost.

Seems far-fetched. No one is forcing you to buy an S&P 500 fund. And you could have sold your S&P 500 shares the day Tesla entered the index.

Do we expect everyone and their grandmas to 'diversify investments without Tesla' and 'know what date Tesla entered the index'?

The government incentivizes retirement and investment. I have plenty of that thing the government hates because it doesnt produce value, it just stores value.

These bad actors have me thinking more and more about these non-producing assets that continue to grow because they are scare and necessary.

Re: Tesla is under a federal wire fraud probe for misleading investors

#39

Post by resource_waste »

infecto wrote: post #20
resource_waste wrote: post #3

When Tesla entered the fortune 500 and my SPY stock bought it, I was enraged that someone could swindle their way into auto-buys. Genuinely not sure what to think of the stock market/index funds since that happened. I'd like to get some sort of compensation that is GREATER than my cost.

What do you mean not sure what to think? Index funds have to follow their prescribed rules. I am also fairly certain any losses you may have experienced would be minor.

Right, there are also SEC rules. Elon broke a bunch and still got into the top 500 companies forcing everyone to buy.

He broke the rules first. The indexes had to follow the rules.

Re: Tesla is under a federal wire fraud probe for misleading investors

#40

Post by resource_waste »

bingbingbing777 wrote: post #5
resource_waste wrote: post #3

When Tesla entered the fortune 500 and my SPY stock bought it, I was enraged that someone could swindle their way into auto-buys. Genuinely not sure what to think of the stock market/index funds since that happened. I'd like to get some sort of compensation that is GREATER than my cost.

How can you prove that damages were done to you?

That is the solution to moral dilemmas? Require the (small) victim to provide sufficient evidence to beat the (big power) abuser.

I mean, the idealistic founding fathers might have thought this is how the world will work, but look at reality: Where do you see little guys actually suing the big guys? The damage needs to be so tremendous that you can afford a lawyer to spend years on it.

So anything less than 10 million dollars goes to the big power. The law says "No damages were done". Morally, damages were done to the masses and this billionaire got richer.

Its an organization issue. The damages were done and EVERYONE knows.

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