We don't have the final results yet but it looks like we can dispense with the idea that Tesla can ever be anything other than Mad King Elon's personal domain of fraud and abuse. He is the company, and the company is him.
www.ibtimes.co.uk/tesla-shareh...
It’s truly incredible what the state of affairs is right now. Weird that it seems impossible to get a handle on climate change and environmental destruction. 😒
Tesla's market cap right now is worth~580 billion. IIRC, it's giving Musk brand new stock worth about 56billion. So its everyone giving musk about 10% of their stock holding effectively.
Genuinely hoping that the institutional investors who were against this see it as the right time to bail. Feels like it's only downhill from here and I'd rather not see pensions get tied up in it.
Moronic shareholders will love the next balance sheet with a 56 billion dollar loss. Maybe that‘s the moment when they realized: They paid the $56B out of their own pockets.
That's a fucking cult. Those aren't investors, they're followers.
Giving away 20% of your investment to the guy running it into the ground is baffling.
What in the actual fuck is wrong with those ppl. Are they ppl or bots tho? I just don’t understand being happy for someone being handed 56 billion dollars…
More importantly: they are *invested* in the company. If it goes under, they lose money. While Tesla posts increasing bad business numbers, they have decided only Musk is indispensable (partly because Tesla is buying ads saying as such!) and if they don't give him more money he'll leave
I have to say, I'm surprised by this. I thought the institutional shareholders would have more sense after all the decline lately. I guess the reality is the stock price is tied to his ownership, they know it, and they will not risk rocking the boat.
remember when you were little and two kids would grab a rubberband and pull it really tight - and neither could let go because they didn't want their knuckles "thwacked"?
like that, huh?
They could have, but Tesla is already up almost 3% on the day so waiting for the vote WAS a good move for traders looking to liquidate. I'm curious to see what trading volume looks like in the coming weeks.
