Dean Sheikh

[Dean Sheikh @DeanSheikh1]

How does the market not see what is happening with Tesla?

It’s clear as day at this point.

Bizarre.

[Dean Sheikh @DeanSheikh1]

@boriquagato @Devon_Eriksen_ 72 bro

[Dean Sheikh @DeanSheikh1]

Colorado migrating moth season (it’s a thing, look it up) has begun.

[Heidi @blockchainchick]

The SpaceX IPO is the most brazen retail fleecing in modern market history.

NASDAQ has REWRITTEN the index rules specifically for this listing. The 10% minimum free float requirement: gone. The 3 to 12 month seasoning period before index inclusion: cut to 15 trading days. Companies with small floats can now be weighted at 3x their actual float.

Translation: every passive index fund, every 401k, every pension is about to be force-fed SPCX whether they want it or not.

And what exactly are they buying?

Class A shares carrying ONE vote each, while Musk holds 93.6% of the Class B super voting shares at TEN votes each. That gives him 85.1% of voting power on a 42% economic interest. He cannot be outvoted. He cannot be removed. CEO, CTO and board chairman simultaneously.

For reference: Zuckerberg controls 61% of Meta. Buffett 35% of Berkshire. Musk: 85.1%.

SpaceX is also claiming "controlled company" status, exempting it from needing a majority of independent directors. Shareholders waive the right to a jury trial. They waive the right to class actions. Mandatory arbitration only, courtesy of an SEC rule change pushed through on a party line vote last September.

$1.75 trillion valuation. $80 billion raise. Largest IPO in history.

The rules of the game were quietly rewritten so one man could extract maximum capital from retail while answering to no one.

[Dean Sheikh @DeanSheikh1]

@gnoble79 Maybe the problem is passive investing with complete disregard for valuation. Perhaps we need a better index mythology than just Looking at market caps.

[Dean Sheikh @DeanSheikh1]

@PlugInFUD No, he used the word “if”, which is one of tells when he lies. Very similar to his use of “aiming”

[Dean Sheikh @DeanSheikh1]

@reed @Waymo screwing up the gene pool though.

[Dean Sheikh @DeanSheikh1]

@StanphylCap Those actually save space. No need for floatation device.

[Dean Sheikh @DeanSheikh1]

@mmomboisse If true, no one should buy a new one. They can get a 5 year old one for 70% off and it will just keep getting better!

[Dean Sheikh @DeanSheikh1]

@StanphylCap how long until McDonald's realizes their stores will be filled with homeless people living on french fries?

[Dean Sheikh @DeanSheikh1]

The reason they gave an incentive to Musk for colonizing Mars is because they can't do an IPO while straight up lying about having a plan to colonize Mars.

They can put whatever they want in his pay package though and then "leak it".

[Dean Sheikh @DeanSheikh1]

HW3 not gonna happen. Sorry suckers. Thanks for paying. No refunds.

[Dean Sheikh @DeanSheikh1]

@yoloption But it gets better in 2027 right? Right?

[Dean Sheikh @DeanSheikh1]

Cash flow negative from here on out. Ooops.

[Dean Sheikh @DeanSheikh1]

@JCOviedo6 Who is in charge of counting?

[Dean Sheikh @DeanSheikh1]

Can someone please translate this part for me? Thanks.

[Dean Sheikh @DeanSheikh1]

Musk just said they are going to ramp production of all models throughout this year. Narrator: You over produced by $2B last quarter alone.

[Dean Sheikh @DeanSheikh1]

@librab103 @yoloption Don't pay suppliers, reduce prepaid expenses, and increase accrued liabilities. $3.6B right there. Just gotta do that every quarter forever.

[Dean Sheikh @DeanSheikh1]

Tesla converted it? I thought the SpaceX acquisition of xAI converted it.

[Watcher.Guru @WatcherGuru]

JUST IN: Elon Musk's Tesla $TSLA converts $2,000,000,000 xAI investment to SpaceX equity.

[Dean Sheikh @DeanSheikh1]

@StanphylCap don't forget accrued liabilities jumping $1.3B and pre-paid expenses dropping $1B.

[Dean Sheikh @DeanSheikh1]

3 out of 4 EV chargers out of service and the person is trickle charging to 100%.

#clueless