How much money Tesla short sellers made after Elon Musk's NYT profile

How much money Tesla short sellers made after Elon Musk's NYT profile

In an interview with The New York Times published yesterday, Elon Musk speaks candidly about the "excruciating" year he's been having.

Musk admitted that he has been charging full speed ahead in all directions - with the production of his electric-car company's first mass-market vehicle, the Tesla Model 3, and with the many business and personal obligations he says have begun to affect his health.

Musk said there were times he didn't leave the factory for three or four days at a time and days when he didn't go outside. Members of the Tesla Board of Directors have anxious Elon doesn't sleep after taking Ambien. he tweets, and it has caused the company problems. most recently when he tweeted he wanted to take the company private.

Tesla's stock prices surged that day.

The Wall Street Journal also reports that the SEC is examining if Tesla misled investors about production problem for its Model 3 sedan.

"It seemed like better karma at 420 dollars than at 419 dollars", he said. "This has really come at the expense of seeing my kids".

More news: Andy Murray out of Cincinnati Masters after Lucas Pouille defeat

He plans to keep his dual chairman and CEO roles, despite also leading SpaceX, Boring and other firms. By Musk's own admission, he has been burning it on all sides while Tesla struggles to crank out thousands of its first mass-market auto, the Model 3 sedan.

And while he says he's open to someone else taking over from him, Musk also reckons that there's no-one who could do any better.

"I thought the worst of it was over - thought it was", he said.

But, people familiar with the search said it escalated after Mr Musk's tweets about taking the company private and the cave diver.

"While this may be a governance issue it would be a very disappointing company issue because Elon Musk's vision and personality is so intertwined in the company".

Meanwhile, regulators are also looking into the "funding secured" affair after Musk tweeted that he is ready to take Tesla private at a price of US$420 a share and he has already found the money to do so.

More news: Roundup Chemical in Your Cereal: What to Know

He attributed a lot of his stress to short-sellers who bet against Tesla's stock, saying he's preparing himself for "at least a few months of extreme torture from the short-sellers, who are desperately pushing a narrative that will possibly result in Tesla's destruction".

Musk, who is a controversial figure, has drawn further criticism this year for his tweets. "It is often a choice of no sleep or Ambien", Musk said.

Musk said on Monday he did not want to saddle Tesla with more debt, meaning it would then have to rely on private fundraising rounds like Uber Technologies Inc and other venture-backed companies, likely incurring a much higher cost of capital.

Musk, 47, has a reputation for being an eccentric visionary.

The Times did not press Musk over his many ventures and trips not directly tied to Tesla's production and sales efforts. A famous short seller has said that he avoids shorting companies the world would miss if they disappeared. "They can have the reins right now", Musk tells the Times.

"This is why I referred to "funding secured" in the August 7 announcement", he said, referring to his surprise tweet on that date that he was thinking about taking Tesla private.

More news: White House says Turkish sanctions 'regrettable'

The link between public perceptions of the tech billionaire's mental state and the financial state of his publicly traded company was evident today, in the wake of a New York Times interview that quoted Musk as acknowledging he was fraying.

Related Articles

  • Donald Trump Challenges Turkey: ‘We Are Not Going to Take It’

    Donald Trump Challenges Turkey: ‘We Are Not Going to Take It’

    Turkish markets will be closed from midday on Monday for the rest of the week for Eid Al Adha. An American pastor imprisoned in Turkey will not be allowed to go free.
    Former Indian prime minister Vajpayee passes away at 93

    Former Indian prime minister Vajpayee passes away at 93

    It was during Vajpayee's prime ministership in 2000 that India and Russian Federation institutionalised their annual summit meets. The meeting came on a day Imran Khan was voted as Pakistan's new prime minister by the National Assembly of that country.
    Liverpool’s third goal v West Ham was clearly offside, says Manuel Pellegrini

    Liverpool’s third goal v West Ham was clearly offside, says Manuel Pellegrini

    After Salah's first goal the result never really looked in doubt, with the Hammers never seriously threatening Liverpool's goal. This is what I believe we have the ability to now overcome, and that is down to the addition of one man.
  • Erdogan says Turkey will defy economic threats

    Erdogan says Turkey will defy economic threats

    Erdogan has remained defiant in the face of the crisis with Washington, saying Turkey could turn to new alternative markets. The US wishes to tell the Turkish society that its leader has to be removed".
    Giant Italian bridge collapse wreaks havoc in city of Genoa

    Giant Italian bridge collapse wreaks havoc in city of Genoa

    Rescue teams worked through the night and into the morning to recover the victims. "I don't know when", he warned. Rescuers had hoped that their child had survived but when they retrieved the body it was limp.
    Fighting Still Raging in Afghan City of Ghazni

    Fighting Still Raging in Afghan City of Ghazni

    Sharif Yaftali, army chief of staff, says all strategic and government offices in Ghazni are still under government control. Earlier, residents described heavy gunfire ringing out and a government building set on fire.
  • 'Most ancient cheese' found in 3300-year-old Egyptian jar

    'Most ancient cheese' found in 3300-year-old Egyptian jar

    Upon analysis of the mass's contents, they recognized some of the proteins to be of cow milk and either goat or sheep milk. It's a disease that spreads to animals to people, typically after eating unpasteurised dairy products .
    Former Indian PM Atal Bihari Vajpayee in critical condition

    Former Indian PM Atal Bihari Vajpayee in critical condition

    The Modi government in 2014 that Vajpayee's birthday, December 25, would be marked as Good Governance Day. The 93-year-old leader has been receiving treatment at the AIIMS since June 11 for multiple ailments.
    Opec confident China-US dispute won't hit demand

    Opec confident China-US dispute won't hit demand

    Oil prices edged lower, with Brent crude was at 72.72 dollars a barrel and US crude was at 67.33 dollars. Those figures were mainly due to adjustments to production in China during the first half of the year.
  • Brennan says Trump move 'designed to send message'

    Brennan says Trump move 'designed to send message'

    Brennan said in the article that many American citizens are being drafted by Russian intelligence operatives to work for them.
    Manafort won't testify in fraud trial

    Manafort won't testify in fraud trial

    Gates, Manafort's former business partner, testified last week that he and Manafort did in fact commit bank and tax fraud. At the same time, the judge overseeing the trial rejected Manafort's motion to throw out the 18 charges against him.
    L'Equipe: Zidane wants to take over at Manchester United

    L'Equipe: Zidane wants to take over at Manchester United

    The opportunity to come in and manage a club such as Manchester United back to former glories is one which appeals to Zidane. Zinedine Zidane 'is interested in managing Manchester United' and 'wants to succeed Jose Mourinho as early as next season'.