Elon Musk Called Jeff Bezos What?! + Nikola and Tesla Update! June 30th,2020

Elon Musk Called Jeff Bezos What?! + Nikola and Tesla Update! June 30th,2020

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Folks we have some Elon Musk and Jeff Bezos drama. As you might know Elon Musk and Jeff Bezos are 2 of the richest people in the world and are the CEOs of many big companies.

Elon Musk seems to continue to go after Jeff Bezos on the social media front while Jeff Bezos seems to continue to go after similar businesses of Elon Musk.

This is a fun billionaire battle to watch unfold. We will also talk about some Tesla news and some news around the Nikola badger. Nikola stock and Tesla stock both have good days today. Enjoy!

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Well, good. You know this guy on your screen right there. Do you know that gentleman? I bet she might not get your musk back in the 90s I know what you think you think? What the heck? That’s Elon Musk back in the 90s. Yeah.

You know what, man, being a billionaire Life is good. You can tend to like turn back the clock a little bit. Okay. So Elon Musk has been in the news a lot lately. And I mean, like a lot a lot lately for a lot of big news stories out there. And it’s not just like in the stock market community.

He’s been in the news. He’s done several things very recently that have gotten the world talking about Ilan musk. Let’s put it that way. Okay. I mean, he just had a kid, you know, that’s awesome. I know.

He’s had many kids over the years, but he just had a new baby. And what does that baby’s name? I mean, let’s just call the baby math because honestly, I have no clue how the heck to pronounce that name. Okay.

So let me know in that comment section, if you know how the baby’s gonna be pronounced. Okay. There was that was a huge news. Everybody’s talking about that. Right. Then today. He goes on Joe Rogan that’s released first thing this morning, right?

The Joe Rogan podcast. And I know as far as Tesla shareholders go, everybody was like, oh, what’s the thing? Because remember what happened last time? Elon Musk went on Joe Rogan? Yeah, there was that whole thing. Okay.

So there’s no need to say and then that whole thing that dropped Tesla stock price that caused a ton of controversy, a ton of stress around Ilan musk and things like that. So people were real worried about what would happen on Joe Rogan today.

And it looks like everything was okay. The stock hardly went down today. I mean, it was a great day for the market. So you know, you should have assumed Tesla stock would have been up but at least it wasn’t down massively because usually, you know, yeah, assuming he goes on Joe Rogan, there might have been something crazy that would happen and in a stock like what it went down huge.

And that was obviously not the situation this time. Okay. But what I what has made stock market news so heavy over the past, you know, few days is a tweet he sent out may 1, since Tesla stock price is too high, in my opinion.

And ever since that tweet was sent out, I’ve received a ridiculous amount of comments and messages from people wondering my perspective, somebody that’s a Tesla shareholder, and somebody that knows a good amount about what CEOs can do.

And what they can’t do is the SEC going to come back after him again, the last time Ilan Musk was in the news for a tweet in relation to Tesla’s stock price. It was back on August 7 of 2018. Right? That’s when we sent that tweet and considering taking Tesla private at $420. Funding secured, it’s a famous tweet, probably the most famous tweet in stock market history, right.

And that tweet led to a massive decline ultimately, in Tesla’s stock price. From there, it led to a year of just, you know, a lot of uncertainty around Tesla. It led to a lot of questions about Ilan musk judgment about Tesla’s real valuation, you know, saying you’re going to take it private at 420. Does that mean essentially you think it’s only worth 300? Something right?

Because if you’re going to take it private, at 420, you always want to get a premium. So maybe you only think the company’s worth 300 something dollars a share. So let’s do those questions. Obviously, there was a lot of talk about that time about would would Ilan musk be removed as Tesla’s CEO, would he be removed as Tesla CEO?

Would he be barred from being a CEO of not just Tesla, but any public company in the future, there was a lot of talk about that Ilan must took fine. You know, he went on 16 minutes, he said he had no respect for the SEC, it was a dramatic situation, he had to go to court for it.

And ultimately, in the end, I think he got a $20 million fine as well as Tesla had to pay a fine as well as if I recall. And ultimately, he was able to stay on as the CEO, they did have to add a couple new board members and things like that.

And they’re supposed to have somebody that vets Elon Musk’s tweets, but I don’t think that really happens in the end. Okay. So, like I said, I’ve received crazy amounts of messages from people asking, you know, is the SEC gonna force him out of tests? And now Is he gonna?

Is he gonna be forced out? Is there a likelihood that will happen? And I’m here to tell you, no, there’s not okay? There’s not, in my opinion, this tweet will go into depth about why I feel this way.

This will not be something that gets him removed as CEO. This is nothing that this sec, in my personal opinion, can come after him for and say, You know what, yeah, we’re gonna have to remove you now, because we do know he’s on kind of thin ice with the SEC, right.

And we know the SEC does have the right if they can prove it to basically remove him from his position and barred him from being an executive of a public company, like a Tesla, and obviously, a lot of us that are Tesla’s shareholders.

We feel like there’s an Elan musk premium in there for what Ilan musk brings to the table and how he can control the company and continue to build and things like that. So I’m here to tell you know, he will not be forced out of Tesla. Let me explain Okay, why not?

Okay, you guys know the drill smash a thumb eat a plumb a bang a homerun drum. Okay, so what we’re looking at here, I know a lot of people don’t want to do actual research work side of the research. work for you. Okay, I went to the SEC website and on the SEC website, we’re going to get to laws and things.

And there are that many really like rules and laws for like a CEO here in the code of ethics for CEO is senior financial officers. Let’s just kind of read through a few of these real quick. And we’ll just see if Elon Musk’s tweet he sent about basically feeling Tesla’s stock prices too high.

If that violates any of these, okay, the CEO and all senior financial officers are responsible for full fair, accurate, timely and understandable audits and in turn financial statements, and the periodic reports required to be filed by a company in the sec.

Okay, it’s not going to fit into anything like that, right? Let’s go down number two, the CEO and each senior financial officer shall promptly bring to the attention of the audit committee, any information he or she may have concerning significant deficiencies in the design or operation of internal controls.

Which could adversely affect the company’s ability to record process summarize or report financial data? Yeah, that’s not going to fall into anything there. Okay, number three, the CEO and each senior financial officer shall promptly bring to the attention of the general counsel, or the CEO.

In to the audit committee any information he or she may have concerning any violation of the code of ethics, including any actual or apparent conflicts of interest between personnel and professional relationships involving any management or other employees who may have a significant role in the company’s financial reporting.

Audits or internal controls, obviously, that wouldn’t fit there. And there are three other things here, okay, the CEO and each senior financial officer shall promptly bring to the attention of the general counsel, or the CEO, and to the audit committee any information he or she may have concerning evidence of material violation of the securities or other laws.

Rules and regulations applicable to the company in the operation of its business by the company or any agent there have a violation of code of ethics. Now, it’s not fitting in there. Okay. Number five, the Board of Directors.

Shall determine or designate appropriate persons to determine appropriate actions to be taken in the event of a violation of the code of ethics is not going to really fit into anything there. And the last one, number six here, okay, the CEO and each senior financial officer shall keep a written record or receipts, okay?

That’s not going to be at either. Okay. So we just went through all those and, you know, Elan musk tweet could definitely not fit any of those in the code of ethics. Okay. No, no, what was the major issue with with the past tweet, Ilan must sent out August 7 2018.

How does it differ from this tweet? Okay. So here’s where it was kind of Muddy Waters with the with the tweet you almost sent out in August of 2018. Okay, what it was during the trading day, you know, you really don’t want to send out a material tweet about the stock price during the trading day.

It’s not really like a rule, you can’t do that. It’s just not that great of an idea, right? I mean, you send out something like that, like the company is kind of go private, for 20, in the middle of a trading day, and you do it on Twitter tonight.

Like it’s a business wire news story, like, that’s the type of stuff that would you would see come out way before the market opens, or after the market closes? That’s just usually the way it goes. So during the trading day, not ideal, but it couldn’t be seen as manipulative.

Why? Well, he’s basically announcing that the stock was going to get sold out at a price that was quite a bit higher than where the stock was trading at that day. You are Musk, much of his wealth is where it’s tied up in tough stock.

So the way this could be seen by somebody, the SEC, for instance, or anybody trying to enforce this, they look at this tweet, and they’re like, okay, the majority of your personal wealth, and you’re the CEO of this company, it’s tied up in this company named Tesla and you basically make an announcement that this company is just going to go private in the middle of a trading day.

And so if you’re the SEC, you’re looking at that and you’re like, this seems like this could be some type of securities fraud. Maybe this is something where they’re trying to manipulate the stock price out for own personal gain, okay, and that’s the way it could be seen.

Now ultimately, Elan musk couldn’t really get taken down for this why not because he didn’t see the selling shares. But I can tell you if Elon Musk that same trading day after the stock price goes up huge which once he sent out.

That tweeted initially it did start going up and up and up if he would have went ahead and sold a bunch of shares or he had just bought the stock a few days before or something like that. Absolutely.

They would have been able to take Elan musk down for good because basically he’s he’s sold the stock he manipulated or could be looked upon as he manipulate it for short term stock price gain, got it up sold out and he’s as he’s the CEO of the company, okay, you know.

If you’re a random person, you can do whatever but when you’re the CEO of that company, there’s there’s a different set of rules for you. Okay, you’re you’re held that kind of a different standard. So ultimately, they couldn’t take you on musk down for that.

Okay, but it was absolutely something that you know, the SEC actually had to investigate and it was at least worth their time. Now, this new tweet, okay, I don’t even think the SEC is going to do a full like, look into this tweet and here’s why.

Okay, this is what he tweets. Tesla stock price is too high, in my opinion. Okay? That’s his opinion. First off, okay? This is no. Okay, so it’s during the trading day. Yes, it was once again, you know, Elan Musk, in my opinion should just stay away from tweeting anything in relation to Tesla’s stock price higher or lower.

I don’t care like Don’t even mention Tesla stock during the trading day, in my personal opinion, it was during the trading day, that was kind of the one knock okay. But ultimately, this couldn’t be seen as manipulative to to help him out personally.

Once again, the majority of his wealth is were tied up in Tesla stock, right? And this is obviously a tweet that hurt Tesla stock quite substantially. Stock actually sold off quite heavily after this tweet came out.

So you can’t look at and be like, well, he did. He did that because you want to make a bunch of money now, not really, obviously, it hurt his wealth, and then where most of the money’s tied up. And also, this is his opinion about Tesla stock price.

This is not material info. Material info is something like our revenue last quarter was blah, blah, blah, number or net income, you know, this last quarter, and by the way, nobody knows is that the time if he tweets out that or tells people that then we’re talking, that’s material info you shouldn’t be giving out unless it’s in like a quarterly release or something like that.

Or a scenario where you’re like, Oh, yeah, we’re gonna go private at $420. That’s material info. And you can’t just be you know, releasing that on Twitter during a trading day, just randomly when, when people like, is that even true?

Is that false? It’s going to move the stock price huge. Okay. You know, at the end of the day, him saying Tesla’s stock price too high. It’s just an opinion. There’s no material info there. In no way you know, if he said, the stock price is too low, instead of saying too high, still, you can’t really you can’t really take him down for that.

It’s nothing there. Just because he gives his opinion about the stock price. There’s nothing there that you can take him down with. There’s nothing there that you can say well, Tesla can fire him now. Or you know, he’s in a forest fires situation are going to be bored.

There’s just kids just can’t What do you you know, you There’s nothing you can say about that whole situation. Okay. And so at the end of the day, no, Ilan Musk is not going to be fired from Tesla. And I doubt the SEC even looks into this.

This is way different than the 420 tweet way different. Okay. Ultimately, do I care as somebody that’s a Tesla shareholder? Not really, I’d prefer not to talk about Tesla stock price at all during a trading day.

I just think that’s best. You know, I think that’s for all companies, not just Tesla, but I just don’t think it’s the best move to talk about Tesla, you know, stock price during an actual trading day.

I just don’t Okay, so do I care about this? No, I really don’t you know, if he almost said you know, stock price was too low, it doesn’t mean I’m going out there and buying more Tesla shares and if he says it’s too high doesn’t mean I’m like going in I’m like, Oh crap, Elan Musk said this I’m gonna go sell my shares.

I don’t care I hold my shares and in the public count which is 150 shares there and we hold some you know, other tests of shares and some other accounts and you know, it is what it is you know, I’m happy with my position and I’m not going to materially trade upon Ilan musk opinion about Tesla stock price or not, and by the way.

I did a full really in depth video on financial education too and I was you know, video is gonna come out on the main channel but if you didn’t get to check out this other video I did on financial education to you know, type in the channel name financial education to and check out this video.

This went in depth, not about Elon Musk comment, but it went in depth about looking at Tesla’s stock price and comparing them against other companies and really trying to get to the bottom of is Ilan must have a have a point is Tesla stock price really too expensive?

Or is it actually too cheap so that’s what that video went into. So hope you guys enjoyed this video. As always, let me know in that comment section what your opinion is on you know, this whole Ilan musk situation if you think the SEC is gonna try to come after him for this, like I said, I don’t think so.

But you might have a different opinion. So whatever your opinion is, share it in the comment section. Don’t forget smash thumbs up. Thank you for watching. Have a great day. Bye. We’ve got free resources linked in the description.

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