THIS Is The Quality Control You Don't Want: Tesla Model 3 Loses The STEERING Wheel While Driving

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Have your handlers not yet told you how to respond?

Lmao

Will the inflated stock price come apart like the steering wheel did???

Unless retail investors continue to act like ostriches with their head in the sand, steering wheels will not be the only wheels to come off Tesla for long....

CNBC.."Tesla Inc Chief Executive Elon Musk personally owes $507 million to Wall Street banks involved in Tesla’s stock and debt sale, backed by his stake in the electric car maker, a company filing showed on Thursday. The lending was disclosed in Tesla’s prospectus on Thursday to raise up to $2.3 billion with new shares and convertible debt. Tesla said that if the price of its stock falls and the banks force Musk to sell some of his shares, that could create additional pressure on the stock."

Let's see - (i) Fremont, CA and Shanghai Tesla production totally shut down; (ii) financing markets not all that healthy; (iii) Tesla is closed so it can't get the government welfare "PPP" forgivable loan (e.g. free money); and (iv) Musk has been ranting like a CSI hostage just hit with some jumper cables attached to a Model 3 power pack. Hmmmm...how is this going to end?

Could Tesla be the stock that is 'brought down' by the COVID crisis? Seems pretty fragile to me!

CNBC..."Goldman Sachs Group Inc has $213 million in loans outstanding to Musk, while he owes Morgan Stanley $209 million, and another $85 million to Bank of America Corp. Goldman was not mentioned as a personal lender to Musk in the 2017 filing.

Those loans are backed by Musk’s shares in Tesla, currently worth a total of around $8 billion. If Tesla’s stock declines, then Musk could be forced to sell some of those shares under terms of the loan, according to the Tesla filing."

Apparently margin loans to exercise stock options...what could possibly go wrong???

"......he has to borrow, sometimes a lot, to pay for his lifestyle and business investments without liquidating shares that help him maintain control of the companies he runs. About half his Tesla stock is pledged as collateral for personal loans, an April 28 financial filing shows. Maintaining his equity stake—about 20%, or around $29 billion at its current valuation—is important for him to keep control over the Silicon Valley auto maker. Musk also doesn’t take a salary at Tesla, but he apparently became eligible for stock options worth more than $1 billion this week. To get that money, he will need an eye-watering $592 million to exercise the option, according to the WSJ. It’s not clear if Musk has the money on hand to exercise that option or if the money raised from the house sales will be used to help pay for the sum. “Mr. Musk said he wasn’t selling his possessions because he needs the money,” the WSJ reported.

But I thought margin loans were totally like free money. LOL

Basic rule of car driving, keep both hands on the wheel!

Shit sells

Wait till the wheels fall off lol...