So the privatisation deal is off after just 2 weeks - you woudl have thought EM would have done his due diligence before making the announcement? Back to fundamentals now - sell, fund raising required in the short term and targets will continue to slip. Thinking about it, there was a genuine reason to take the company private. It would have got rid of short term targets to keep shareholders happy and allowed EM to focus on the long term.
There is afair bit of press comment about Tesla's debt mountain and competitors making progress:- https://www.msn.com/en-gb/money/com...rivate/ar-BBMzQli?li=AAnZ9Ug&ocid=mailsignout
If the shares fall through support around $300 they might test circa $250 again. It seems to be all about a lack of confidence in Elon Musk and his ongoing erratic behaviour. Close down his Twitter account and lock him in a room to do his job without distractions! The debt moutain is getting a lot of press coverage - not good. If the market gets a whiff that the company needs cash the shorters will be out in force leading to potentially massive dilution of existing shareholders as the shares drop further and further. Cant see any good news on the horizon to divert eyes away from the cash position - EM has always managed to pull a rabbit out of the hat, not this time?
I read that Goldmans has turned negative on Tesla with a target price of $210. This after apparently advising on the potential bid to take the company private at $420. All very strange - shares have crashed through the last support level. https://money.cnn.com/2018/09/04/investing/tesla-stock-goldman-sachs-elon-musk/index.html
I certainly wont be buying this one on the dips! Elon Musk is apparently being sued in 4 different countries - if he is the "main man" behind Tesla then these distractions cannot be good for his focus. How can the business not suffer?
All of the focus should be on the company, not Elon Musk. I think he needs to take some time out and get himself balanced again. He seems to be determined to ruin his own reputation - what are the Tesla execs doing to try and save the company from any more fallout?
Light at the end of the tunnel? https://electrek.co/2018/09/10/tesla-tsla-stock-rises-positive-note-baird-fremont-factory-tour/ Or another shorters dream? I am in the shorters camp at the moment - in a best case scenario the company will need additional funding, in a worst case scenario the competition is quietly catching up.
The drag towards $260 and the last major support level continues - strange that the company is so quiet (except EM) about prospects for the future. Normally they release a flurry of positive news to counteract any short term issues. Has the company run out of good news? Is something going on behind the scenes? I presume EM will be barred from making an offer for the company after his last effort fell at the first hurdle? However, surely the Middle East sovereign funds will be more interested than ever at this level?
