Enough Musk Spam

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The Hilarious Reason Why Elon Musk Is Panicking Over Tesla Stock Value (newrepublic.com)

submitted 1 day ago by pelespirit@sh.itjust.works to c/enoughmuskspam@lemmy.world

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“If Elon Musk were forced to sell shares of our common stock that he has pledged to secure certain personal loan obligations, such sales could cause our stock price to decline,” Tesla wrote.

“We are not a party to these loans,” the company added.

It already seemed like Musk was going to have trouble paying back his loans for X. Last year, the social media company reported that its value had plummeted by more than half, to around $19 billion. When the banks formulated a plan to restructure the loan, X didn’t follow through, The Wall Street Journal reported at the time.

Tesla stock was doing slightly better on Wednesday, as a result of an uptick in the wider market caused by a report that inflation had eased slightly in February.

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[–] Saledovil@sh.itjust.works 2 points 8 hours ago

The market can remain irrational longer than you can remain solvent. Shorts, especially, have potentially infinite risk. Put options would be a better option for a small time speculator.