THE ENGINEERS AT TWITTER FUCKING MOGGED AND DESTROYED ELON MUSK FOR BEING THE TOTAL FRAUD THAT HE IS π€£π€£π€£π€£π€£π€£π€£π€£π€£π€£πππππππππππππππ
@billybinion@JTreetorn The problem is multi fold but one element is that the funds can be used without selling - borrow against your stock. If you have enough you can do whatever you want without having to pay taxes.
TLDR: it looks like on the day that the SpaceX lockup goes away, SpaceX will be added to the Nasdaq Index at a weight 3x larger than justified by float and without meeting the earnings requirement, will be added to the S&P 500.
Details: It was reported in March that SpaceX stated they would prefer to list on Nasdaq with early inclusion in the Nasdaq-100 Index being a major condition of that listing.
Nasdaq then tried (in February) to make the weight for new IPOs in the index 5x the level of actual float issued (very little float of SpaceX will be available, thus the weight in the index would be outsized relative to the float)... it is easily interpreted that the 5x level was a level explicitly created by Nasdaq FOR THIS SPACEX IPO (typically, there are no multipliers). They settled on 3x (i.e. a 3x larger weight than justified by float... squeeze anyone?).
S&P follows (can't lose business in their ETFs from Musk fanboys) AND is poised to remove the requirement that new listings have GAAP earnings that has been in place for ~40 years.
Tesla $TSLA earnings might look good on the surface, but they are in complete shambles if you dig even a little:
- Tesla Listed "one-time warranty and tariff benefits" as the #1 driver of profitability β refused to disclose the dollar amount
- Seemingly Booked IEEPA tariff refunds as income in both auto AND energy segments after the Supreme Court ruling β a one-quarter windfall
- Stretched supplier payments from 61 to 71 days β up from 52 days two quarters ago β adding $1.3B to payables to juice cash flow
- Issued $4.3B in new debt (3x last quarter) to keep the cash position flat after a $2B SpaceX investment
Meanwhile: deliveries missed, inventory piling up to 27 days of supply, energy storage down 15%, and GAAP net margin was just 2.1%
"SpaceX, the Musk-led rocket and satellite maker, accounted for 1,279 β or more than 18% β of the 7,071 Cybertrucks registered in the US during the fourth quarter, according to registration data that S&P Global Mobility provided to Bloomberg News." https://t.co/fvUhCuXwzv
Non-residents who spend millions of dollars on NYC apartments help drive NYCβs economy. Most of the profit in condominium development is in the penthouses. The Ken Griffins of the world make NYC high end development viable, driving high-paying construction, brokerage, legal, marketing, and other jobs in NYC. We should be applauding Ken for spending $238 million in NYC, not attacking him for doing so.
Importantly, non-resident owners of NYC apartments who leave their apartments vacant for much of the year are not a burden to NYC schools, services, or other resources while they drive growth in retail sales, restaurants, theater, and other important drivers of our economy. They also often support NYC non-profits with donations.
Kenβs company is a major employer in NYC of very high paying jobs which drive a considerable amount of our tax base. We wouldnβt want him to move even more employees to Miami.
These non-resident owners also already pay a lot of taxes including mansion taxes, real estate taxes, sales taxes and more.
While @NYCMayor Mamdani likes the tag line βTax the rich.β Unfortunately, his policies will harm the constituencies he is supposedly trying to help.
I canβt imagine the NYC construction unions are excited about his plan.
Why yes my best trade of the year is a 1DTE Tesla $280 call bought yesterday for 0.16 because well this would be super stupid and seems to be the vibe of this market. Thanks for asking π
Itβs because you sold out the working class for suburban white collar workers and billionaires. but sure trumps not helping. At least you can all agree to bend over and spread our collective cheeks for zaddy Netanyahu. Fucking cucks.
His Holiness Pope Leo XIV (@Pontifex), I condemn the insult to Your Excellency on behalf of the great nation of Iran, and declare that the desecration of Jesus, the prophet of peace and brotherhood, is not acceptable to any free person. I wish you glory by Allah.
Sam Altman has admitted he is on a waitlist for a procedure that would digitize his brain.
The procedure would kill him. He considers this an acceptable trade for digital immortality.
This is the person making decisions about the future of artificial intelligence for hundreds of millions of users. A man who views ending his own biological life as a reasonable step toward uploading his consciousness to the cloud.
These are not the priorities of a stable leader.