TESLA...Stick A Fork In IT? STOCK PLUMMETING

Elon Musk has garnered a lot of ridicule recently, with his foolish comments and acts. Add to that the lawsuits and Tesla's nervous investors and you have a recipe for disaster IMO. Is Tesla's demise in the future? Lets look at a handful of incidents and you decide.
Lets start with Musk's conference call gaffe that occurred on May 2nd:

Tesla’s shares fell 5.6%, erasing about $3 billion in market value a day after Mr. Musk sparred with Wall Street analysts in a show of defiance rare for traditionally staid conference calls to discuss a company’s quarterly results.

Mr. Musk chose instead to dismiss analysts over their “boring, bonehead” questions, cutting off two of them when they asked about Tesla’s capital requirements and customer reservations for the Model 3 sedan.

But even for Mr. Musk, the impertinent answers to analysts from big banks was jarring, and raised questions whether he was masking Tesla’s problems.

www.wsj.com...

Then in late May, there was news that shipment of a promised $35,000 version of it's Model 3 would be delayed, even though hundreds of thousands of people deposited $1,000 to get on the waiting list.

Tesla isn’t shipping its $35,000 Model 3. That’s a problem if Elon Musk wants the company to appeal to a mass market.

Two years ago, Elon Musk unveiled Tesla’s first mass-market vehicle — the Model 3, starting at $35,000 — inspiring hundreds of thousands to deposit $1,000 to get on the waiting list.

The CEO — who announced the specs of this luxury-priced vehicle on Twitter — said the company would “lose money and die” if it started by shipping the lower-priced Model 3 that starts at $35,000.

www.recode.net...
Also in May, Tesla agreed to settle a class action lawsuit, because the "company’s assisted-driving Autopilot system was essentially unusable and demonstrably dangerous”

Tesla Inc on Thursday reached an agreement to settle a class action lawsuit with buyers of its Model S and Model X cars who alleged that the company’s assisted-driving Autopilot system was “essentially unusable and demonstrably dangerous.”

Tesla’s Autopilot system has come under increased scrutiny in recent months after two Tesla drivers died in crashes in which Autopilot was engaged. The most recent crash, in March, is being investigated by safety regulators.

www.reuters.com...
In July, Elon Musk offered to help with the rescue mission of saving the 12 Thai soccer players and their coach, who were trapped in the Tham Luang cave. He offered use of a mini-submarine to help get the people out of the cave safely. It was decided that the mini-submarine was not practical for the rescue mission. One British cave diver, Vern Unsworth, called Musk's actions a “PR stunt” and stated that Musk should stick his submarine “where it hurts.” This led to Musk's crazy tweet, insinuating that Unsworth was a pedophile.

Soon afterwards, Musk apologized for his tweet:

When Musk heard that a lawyer, representing Unsworth, was considering legal action against him, he doubled down on his accusations against the British diver.

In his first email, Musk wrote, “I suggest that you call people you know in Thailand, find out what’s actually going on and stop defending child rapists, you #ing asshole.”

“He’s an old, single white guy from England who’s been traveling to or living in Thailand for 30 to 40 years, mostly Pattaya Beach, until moving to Chiang Rai for a child bride who was about 12 years old at the time,” Musk continued.

Referring to the threatened lawsuit, which Musk said “magically appeared when I raised the issue,” the engineer said, “I #ing hope he sues me.”

www.newsweek.com...
Back in mid-August, Tesla was hit with another lawsuit, this time because "some investors purchased Tesla stock 'at artificially inflated prices and suffered significant losses and damages once the truth emerged' that Musk had not secured the funding necessary to convert Tesla into a private company for $420 per share, as he said on August 7."

Tesla is facing another lawsuit accusing CEO Elon Musk of manipulating the company's stock price. The suit follows two lawsuits filed against the company last week by investors alleging securities fraud.

According to the lawsuit, "Musk's tweets were an ill-conceived attempt to manipulate the stock price of Tesla upward in order to burn investors who had sold Tesla stock short," and, "had the desired effect of creating a massive one-day increase in the price of Tesla stock and causing short sellers large losses."

www.businessinsider.com...
In late August, an article came out that reported how engineers, working at Tesla, did not believe the Autopilot system was ready to safely control a car.

a lead engineer warned the company that Autopilot wasn’t ready to be released shortly before the original rollout. Evan Nakano, the senior system design and architecture engineer at the time, wrote that development of Autopilot was based on “reckless decision making that has potentially put customer lives at risk,”

www.theverge.com...
Just last night, on “The Joe Rogan Experience” podcast, Elon Musk was seen "smoking marijuana inside tobacco."

After Rogan said he was smoking marijuana inside tobacco, the podcast host asked Musk, “You probably can’t because of stockholders, right?”

Musk responded with, “I mean it’s legal, right?” Rogan then said “it’s totally legal,” and Musk said “OK” and took a drag.

www.marketwatch.com...

Today, Tesla's stock is plummeting, as Chief Accounting Officer Dave Morton Resigns and "Tesla’s Chief People Officer Gaby Toledano announced she would not be returning to the company after taking a 15-month leave of absence August 15."

Tesla’s Chief Accounting Officer Dave Morton has resigned from the embattled electric vehicle company, citing unsought levels of “public attention placed on the company.”

Moments after Morton’s resignation, Tesla’s Chief People Officer Gaby Toledano announced she would not be returning to the company after taking a 15-month leave of absence August 15.

Shares of the car company tumbled 9 percent premarket. Currently, shares are down 10%, the biggest daily $TSLA loss since 2016.

www.breitbart.com...

More luxury car makers (Jaguar, BMW) are coming out with all electric vehicles, with Mercedes just announcing the release of a sharp looking, all-electric SUV.

Mercedes takes on Tesla with all-electric SUV

Analysts were quick to point out that the EQC announcement sends a message that Daimler is ready to take on Tesla's Model X in the luxury SUV market — Bloomberg called the EQ rollout a "$12 billion attack plan," and Reuters called the SUV a "Telsa fighter" — but with no price tag listed yet, it's not certain just how the EQC will stack up against the $80,000 starting price of the Musk mobile.

mashable.com...

So, with all this happening in such a short amount of time, just what are the chances that Tesla survives all this controversy? Is the end in sight?

a reply to: shawmanfromny

I can not believe people are freaking out cause he smoked some skuif.

People need to #in get over it.

Is this Elon Musk Day?

We should start at least 5 more threads about how super awesome he is.

originally posted by: shawmanfromny

If only I were a cartoonist, the other day I wanted to make a spoof of a Benz that the emblem is the entire front end of the vehicle.

Nothing wrong with Elon Musk being Elon Musk.... sounds like butt hurt people complaining about him.

originally posted by: IgnoranceIsntBlisss
Is this Elon Musk Day?

We should start at least 5 more threads about how super awesome he is.

Or more posts an articles about how he smoked weed omg the horror.

I heard he choked an infant.

originally posted by: Lysergic
I heard he choked an infant.

Just cause he was high on weed though.
Normally he would never do that

I think I’ll go purchase some stock in Tesla. Seems like a good time for it.

He may not be the most savvy of businessman, but he’s doing more for this world than arguably anyone else.

And to the point of him taking a hit of the evil marijuana....seriously, he didn’t even inhale it. And if he did, it was perfectly legal where he did it.

I wish narrow minded people would be more open minded.

originally posted by: shawmanfromny
More luxury car makers (Jaguar, BMW) are coming out with all electric vehicles, with Mercedes just announcing the release of a sharp looking, all-electric SUV.

Mercedes takes on Tesla with all-electric SUV

Analysts were quick to point out that the EQC announcement sends a message that Daimler is ready to take on Tesla's Model X in the luxury SUV market — Bloomberg called the EQ rollout a "$12 billion attack plan," and Reuters called the SUV a "Telsa fighter" — but with no price tag listed yet, it's not certain just how the EQC will stack up against the $80,000 starting price of the Musk mobile.

mashable.com...

So, with all this happening in such a short amount of time, just what are the chances that Tesla survives all this controversy? Is the end in sight?

Legacy car manufacturers coming out with cars barely comparable to what Tesla has been making since 2012....

I do agree the legacy manufacturers are big threat if they can offer a legitimate alternative. None have yet been able to... however, some people like Tesla because it isn't a legacy manufacturer and all the baggage that comes with them.

Wonder if we have another apple situation here. The dynamic CEO is forced to step down to bring in the staid old corporate guy who then proceeds to nearly run the company into the ground. They bring back the dynamic CEO who breathes new life and excitement back into the company and in addition, the broader consumer market catches up (EVs being mainstream) to the product offering making the company immensely valuable.

He needs a cheap version car to supplement his business.

Everything he made was too high class for average peeps.

Prolly one of those who won't touch reggie...

originally posted by: TinySickTears
a reply to: shawmanfromny

I can not believe people are freaking out cause he smoked some skuif.

People need to #in get over it.

I wouldn't worry about his smoking as much as his companies financial statements.

Considering all the money the fed has poured into it, and how it's been failing to meet expectations. I would run from that stock, cause unless he has a miracle leap forward in the wings the govt money will probably dry up soon.

originally posted by: Bluntone22

originally posted by: TinySickTears
a reply to: shawmanfromny

I can not believe people are freaking out cause he smoked some skuif.

People need to #in get over it.

I wouldn't worry about his smoking as much as his companies financial statements.

People are losing their # over it though.
I don't mean here.

a reply to: TinySickTears

True, but it's not a very good image for a ceo to have. Especially considering that many investors are older people that were raised in the anti pot mindset.

a reply to: TinySickTears

I don't get it either, if he was hitting his marks technically speaking and production was where they keep saying it will be, I wouldn't care if he was snorting blow out of a hookers butt crack on national tv.


A little weed right now as stressed as he seems, meh probably helped him for a day or so.

originally posted by: Bluntone22
a reply to: TinySickTears

True, but it's not a very good image for a ceo to have. Especially considering that many investors are older people that were raised in the anti pot mindset.

The problem is that it is not a good image to most and that is another problem.

It is legal and should be looked at as no big deal.

Wouldn't be an image problem if he had a drink but I pull is a problem?
Pretty #ed up I think

a reply to: shawmanfromny

FWIW, shares of TSLA have lost, to date, $121.00 a share since its August 7 high of $387.46. Today the stock is down $18.33 a share. Its approaching "death cross" territory wherein the 50 day moving average (simple) crosses below the 200 day moving average (simple) and is presently $265.77 (quote 20 minute delay), all quotes approximate.

Tesla stock suffers from a relatively high short ratio of 3.21. The shorts are making money today.

Sadly, the news cycle on TSLA is all negative.
For a recap of the news see:
www.finviz.com...

My analysis: this isn't the time to be buying TSLA in hopes of a bounce; buying now would be akin to trying to catch a falling knife.

For a chart on TSLA see:
www.barchart.com...

Cheers

originally posted by: Bluntone22
a reply to: TinySickTears

True, but it's not a very good image for a ceo to have. Especially considering that many investors are older people that were raised in the anti pot mindset.

However if 0bama indulged or said he did in his youth, that gets a free ride ?