Mask paid tens of millions of dollars from his own pocket to increase Tesla’s intention to explode the bears.


Mask paid tens of millions of dollars from his own pocket to increase Tesla's intention to explode the bears.

Electric vehicle maker Tesla reported to the SEC on Monday that chief executive officer Elon Musk had increased its 33 thousand shares of shares on the same day, adding an average of $298.50, according to Tencent technology news reports. According to the stock price, Musk’s holdings of Tesla shares cost nearly tens of millions of dollars.

Mask indirectly completed the increase through his trust fund. After the increase, musk owns Tesla 33665421 shares. According to Monday’s closing price, the market capitalization of these stocks is about $10 billion 190 million. Musk’s last increase in Tesla’s stock took place in March 2017, when he raised $25 million worth of Tesla shares at an average price of $262. According to the data provided by Bloomberg, musk is currently the largest shareholder in Tesla and its shareholding is close to 20%.

In last week’s tela teleconference, musk interrupted Sanford C. Bernstein & Co and two analysts at the capital market of the Royal Bank of Canada called the other’s problem too “boring”. Affected by this, Tesla shares fell more than 5% after the session. At that time, two analysts’ questions were related to Tesla’s capital demand and Models 3 delivery. In a telephone conference, musk asked one of the analysts’ questions as “boring idiot” to raise the question. “Boring” discussion killed him.

In the earnings report last week, Tesla pointed out that the company’s first quarter capital expenditure had been reduced to $2 billion 700 million from $3 billion 400 million in the fourth quarter of last year, and the company will reduce this year’s capital demand from $3 billion 400 million to $3 billion. Mask claims that the company does not need to sell new shares or new debt this year to make new financing.

However, according to the current burning rate of Tesla, if the company does not make more financing, the company will probably run out of cash this year. Bloomberg has predicted in its article that Tesla will spend $more than 6500 per minute on average. Tesla’s free cash flow has been in negative territory for the last five quarters.

Market analysts expect that as the debt matures and production is too slow, Mask may have to use the capital market to finance $2 billion to $3 billion in the near future. Tesla had about $3 billion 500 million in cash at the end of 2017. The company has a $230 million convertible bond that will expire on November this year, and another $920 million convertible bond will expire in March 2019. Between 2018 and 2019, Tesla could spend about 3 billion 350 million dollars in cash. That is to say, even if Tesla does nothing, the company will have about $1 billion in funding shortfall early next year.

Because Tesla’s first – quarter net loss reached a record $786 million 400 thousand, and it also faced problems with Model 3 capacity reaching less than target and lack of money, many investors chose to short Tesla stock. Mask made a tough reply to last Friday, demanding that the short sellers stay away from Tesla. “Everything seems to come faster than expected,” he said in a tweets on the same day. If you are staring at Tesla’s short, then I suggest you leave quietly and consciously.

After the stock price rebounded last Friday, Tesla continued to rally $8.68 on Monday, or 2.95%, to close at $302.77. According to the closing price, Tesla market capitalization is about $51 billion 470 million. In the past 52 weeks, Tesla’s lowest stock price was $244.59, the highest price being $389.61. (compiling / Ming Xuan)

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