Chevy Volt a Failure - GM to Layoff 1,300

Weird. Right after I posted that, Zero Hedge posted this about SolarCity (most of it lifted from Gordon Johnson at Axiom Capital Management):

Five Reasons Why The Pain For SolarCity Is Just Starting | Zero Hedge

From Johnson's first point:

From Point 4:

i.e. -- They need to borrow more and more and their cost of capital has been going up without rates even normalizing because investors are starting to calibrate the risk! What happens if / when interest rates normalize (i.e. -- all of the rate manipulation ends)?

From Point 5 (about why the stock should be worthless):

And this is the kicker:

FYI, SunEdison or SUNE recently filed for bankruptcy. ...

 

FYI, Tesla just made its play for yet more money ($2 billion). It couldn't hit the debt markets again as I pointed out in an earlier post, because it's prior debt offerings limited its ability. ... But it just announced (less than an hour ago) that it is doing a $2 billion equity offering (what I suggested would probably happen), using the ridiculously inflated stock price (run up on the back of the hype over "reservations" for a car that doesn't exist, even though the stock has been selling off the last month) as currency to raise billions more dollars to blow through as it keeps losing money. I don't know whether to have admiration or not. They have managed to turn borrowing, getting government handouts, hype and shitting all over their shareholders into an actual business. ... and they keep sliding right on by as they blow through the billions and billions of dollars it nets them.

The stock price is getting slaughtered in the after hours. But they did this once before, diluting the value of their existing shares with a secondary offering -- basically robbing their shareholders from right under their noses -- and the market shrugged it off. So I am sure there will be more muppets out there willing to buy something at a ridiculously expensive price that has little value. Or maybe not finally.

As a kicker. ... Goldman Sachs equity research upgraded Tesla stock to a buy rating with a $250 price target and put out a research report this morning that we were laughing our asses off at -- there was no financial rationale for why the company is doing anything, or has prospects to do anything, to justify that kind of valuation (as it loses money and runs up debt) other than hyperbolic comparisons of Elon Musk to Steve Jobs, Henry Ford and the Maytag Repairman (not shitting you on this).

Then a few minutes ago, I found out what would cause Patrick Archambault (the analyst) to put his name on something that was even dumber than some of the shit I read on here and make himself into a joke. .... Goldman Sachs is underwriting the stock offering -- they will make tens of millions of dollars of underwriting fees! So the equity research guys (who are low men on the totem pole) had to sacrifice their reputation for the investment bankers.

I won't say that should be criminal, the way I saw Zero Hedge just did. ... But Goldman Sachs should change their logo to a vivid picture of a prostitute in action. And its clients should be revolting.

 

The initial response to the secondary offering was a 6 percent drop in the stock price in the after hours. The stock price was getting slaughtered, as I said.

The "catastrophe" thing, and the inability to read a post of mine and respond to the actual point and context, is you being you.

If you think the stock price is going to be OK, or is OK, in your attempt to hijack my post and turn it into your typical nonsensical bullshit where you "gotcha" me, of course you were dishonest as usual, and lopped off this which IMMEDIATELY followed the sentence you cherry picked:

 

My post is there. There is little need for some dipshit who posts on a message board all day long taking shots, to "review" my posts -- particularly when the posts themselves go into pretty good detail about what I am posting about, and the ass trailing me around typically has a mickey mouse understanding of conversations he steps into on here. The fact that you read that post and came up with "analysis of market trends," rather than a seeing a follow up to my earlier posts about Tesla needing billions more (on top of all of its debt) and the fact that Goldman prostituted itself to get the underwriting business that just netted the company another $2 billion, sums you up. And the fact that you punctuate it with the stupid attempt at a putdown is just plain an example of message board dick behavior.

 

I rarely respond to your posts -- no matter how inane they are. When I initiate an exchange, I respond to a point, not the person.

If I ever want to respond to a point, I respond to the exact point. I don't pull things out of context to try to try to get a response.And I don't make up shit, mischaracterize you (thinking I am the pithiest message board guy on earth) and then do a yippy thing where I try to get you to respond to moronic words I put into your mouth-- that have nothing to do with what you actually posted.

But again, I barely even acknowledge you on here and rarely initiate anything with you. ... EXCEPT when you do asshole posts that have little do with what I posted, and mischaracterize me and put words in my mouth and lob insults at me. And even then, I actually try to restrain myself.

One other thing. You are just plain DISHONEST. I remember one thread a while back where you were a being a MAJOR DICK (same as always) toward me, and I patiently kept trying to explain something on the thread that I actually had an understanding about. Rather than having a conversation, being respectful, trying to understand, you took shots at me, called me names, made it about every piece of bullshit you could conjure OTHER than the conversation. ... and kept insisting on something ridiculous and wrong in between the put downs. Finally when you hit google, you quoted something to try to bullshit your way through the fact that you didn't have a fucking clue what you were talking about. ... and you dishonestly edited what you quoted to lop off a sentence saying EXACTLY what I had said that you insisted was wrong (and using it as an excuse to be a major dick toward me). It was around then, I understood you. And little has changed since then.

Angriest guy on here? I ignore you for the most part. You are obsessed with me. I barely post anymore, but if I do, I can often count on you jumping in to be an ass toward me. Yeah, I am angry; more like annoyed -- when you do this, not in general. It's annoying when some loser on a message board is constantly being a jerk toward you and trailing you around ignoring your posts and mischaracterizing you and being dishonest in genera and trying to insult you.

But I'll let it go until / if it gets back to EVs / Tesla.

 

That post was in the context of the rest of this thread. It was not "for the express of noting Tesla getting "slaughtered" in after-hours trading." Just stop already. The stock price was having a serious negative reaction when I started that post, so I pointed it out. It has nothing to do with anything.

The actual point of the post (which hopefully was apparent to anyone who doesn't have a stick up their ass with regard to me, and doesn't have voices in their head giving stupid meanings to my posts) was to point out that Tesla needed more money yet again on top of the several billion in debt it already carries on its balance sheet, it's previous stock dilution which raised money, and its government subsidies (things I had pointed out last time the thread came up), and had JUST announced (right before I posted) a secondary stock offering of $2 billion -- because it can't hit the debt markets again (again something I had talked about earlier).

I "dredged" up the thread, as you characterized it, because that offering was news -- not for whatever characterization you created around the sentence you quoted with no context and used as an excuse to take your usual shots at me. The post fit in with the earlier conversations I had had -- not that you took any part in it or have ever offered anything substantive to most conversations. But that didn't stop you from coming in here to make the post about some narrative you have about me and my "market analysis" and some nonsenstical trading advice the voices in your head constantly have me giving you.

I also posted about the conflict of interest in Goldman giving a blow-job stock recommendation the day that the secondary offering is announced and we find out they are raking in millions of dollars of investment banking fees from the offering.

Of course, you came right on to ignore that whole post and create some bullshit, insist some spooge you created was the "point" of the post and take some shots at me. As always.

You are also dishonest -- unless it is just stupidity. If the point of that post -- and it's there for anyone to read -- was about where Tesla's stock price was or is going or about some mystical "market analysis," as you have now made it, why you did you cherry pick a sentence and not quote what immediately what followed -- the part where I pointed out the last time they did a massive dilution, the stock price shrugged it off relatively quickly (unlike with 95 percent of other stocks that don't trade on hype and not fundamentals)? It was the VERY NEXT SENTENCE. But it didn't fit your cartoonish need to turn that every post of mine is some short-term trading advice (where the voices in your head create the parameters), since your sole purpose is to prove how wrong I was about whatever strawman you are going to create in order to be a dick toward me.

It's old. So stop. You trail me around doing simplistic characterizations that put stupid words in my mouth and ignore my posts, and if I respond I am "angry" about being "called out." And you constantly lob lame insults at me.

Let's be honest. You called me "angry." I ignore you on here. When was the last time I responded to you on any thread uninitiated, let alone taking a shot at you personally or being an ass toward you the way you are toward me? When was the last time, I took a shot at you on a thread that you weren't even posting on, or insulted you in the course of a conversation you weren't even part of, the way you constantly do toward me? I barely acknowledge you on here other than when you do this and I get fed up -- and if I respond, I feel like I need a shower, because I actually took the bait. It's hard not to after a while. I hadn't posted on here in days, came on with a post about the secondary offering (which belongs on this thread). ... and there you were with your typical asshattery.