2/ In after-hours and early-trading on December 10 they aggressively marked down the price with just ~1-2m shares. Annotated chart below lays out the details.pic.twitter.com/UUSQZTtOtR
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The Big TSLA Heist of December 10: 1/ The 8-K is out, Tesla has completed their $5b ATM round in record time, just two trading days: December 8-9. Underwriting investment banks executed Tesla's selling & knew by the end of the 9th that Tesla has finished selling.https://twitter.com/truth_tesla/status/1337050603445477378 …
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3/ By the morning of December 10, TSLA was marked down to $570, and after trading open it was pushed down to $566. At that moment an intensive buying spree began, which lasted into much of the day. On higher than average volume, TSLA ended up at $627 - a +10.7% intraday rise.
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4/ During the day I noticed the weird pattern and commented on it in the tweet below, laying out the hypothesis that Wall Street underwriting banks already knew that the $5b offering was finished.https://twitter.com/truth_tesla/status/1337050603445477378 …
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5/ Personally I wasn't harmed by what appears to be blatant, large scale insider trading - but any investor who sold TSLA shares or options today due to the fake selling pressure in the morning probably was. So please be vigilant when investing - the dice are loaded.pic.twitter.com/ATJDwq8oW2
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That's great, hopefully they weren't selling much below 600.
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Seems like we should know what those shares sold for. Anyone?
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Just to be sure.. how we know they won’t announce another offering next week. With these prices it looks attractive for Tesla..
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In the recent WSJ interview Elon Musk already expressed ambivalence about the financing round, and disclosed that it was a close call. Also, the secondary was much smaller than what S&P 500 indexers need: just 0.8%. There's a near zero chance for another secondary next week.
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Also, basically means that all of these 8-K reg filings (and particularly their timing) are almost designed to favor insider trading by banks underwriting secondary offerings
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The main insider information wasn't the 8-K - which is a legal & sensible requirement to inform the public. The main insider information was how far Tesla was done selling their shares - and the apparently insufficient Chinese wall around trading desks of underwriting banks.
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