Top of the big era

Musk is a temperamental person and doesn't care about some capital rules. In his view, all those who short-sell Tesla are his enemies.

How can we make money from these enemies?

You have to do it to the end!

If Tesla really delists, if it wants to have a reasonable delisting plan that convinces the public, the stock price must be at a premium of at least 25%. In other words, as long as the news of delisting is released and the delisting plan is announced, Tesla's stock price will rise sharply.

These short-selling institutions will all be doomed!

Although the current short position is only 500 million U.S. dollars, it is all leveraged. Once the stock price rises sharply, these people may all liquidate their positions.

Bill Gates' position is US$100 million. This transaction may cause them to lose US$200 million.

This is what Musk wants to see.

I just want to teach these people some lessons!

Since Tesla went public, short-selling institutions in the capital market have been giving him problems and embarrassing him. Now that the opportunity has come, I will definitely seize the opportunity to retaliate.

Larry Fink actually didn't want to do that.

This is a bit too offensive.

The interests of shareholders have been damaged. It is Musk who the shareholders blame, and those who are angry are the short-selling institutions and have nothing to do with Black Rock Capital. If Black Rock Capital steps in to help Tesla delist this time, causing those short-selling institutions to lose all their money, they will be angry with Musk and blame Black Rock Capital.

Larry Fink wants to fight for it again, saying that Tesla's stock price is too high now. If it wants to apply for delisting, it needs to give a certain premium...Then the price will be even higher, and the stock price may exceed US$120. .

You know, when Tesla went public three years ago, the stock price was only $24.

It’s not cost-effective to delist in such a hurry.

If "internal and external collusion" can be achieved, Tesla's stock price can be suppressed to an extremely low level with a little operation. If nothing else, it’s just like today’s big news on Wall Street, Dell’s delisting case!

Zhou Buqi understood.

No wonder this guy wants to start with Dell's delisting case. It turns out he is waiting here!

Regarding Dell's delisting case, Zhou Buqi knows more about it.

Carl Icahn invited him several times, hoping that he could participate, eat the fruits of capital together, and share the huge benefits contained in Dell's delisting.

But Zhou Buqi refused.

It's okay to make money, but the food looks too ugly, and he can't accept it.

Dale's eating appearance is very ugly.

A delisting case has been in operation for more than two years.

When it was first announced in the market that Dell was going to be privatized and delisted, Dell's stock price soared, and investors were very enthusiastic. But after waiting for a long time, Dell still made no move, the enthusiasm faded, and the stock price could not hold up.

At this time, short-selling institutions entered the market.

Like Carl Icahn.

It began to smash the market all the way, suppressing the stocks that had artificially risen, causing Dell's stock price to plummet all the way, falling for two consecutive years. When all the positions in the hands of major short-selling institutions expired and were almost settled... Dell belatedly arrived and officially started the delisting process.

At this time, Dell's market value had been suppressed to only $18 billion.

At this time, the famous entrepreneur Michael Dell appeared as a savior, saying that he was responsible for all shareholders and saving the interests of investors, and then promised to buy back the stock at a 35% premium!

Investors and small retail investors will be grateful to him.

Tesla can do the same.

You can suppress the stock price and save delisting costs; you can also stand up and save the situation in the end to gain a good reputation.

Musk doesn’t accept this at all.

He is doing real things and is not interested in such vain tricks.

Of course Zhou Buqi will be with Musk, and he doesn’t like this kind of operation. In his opinion, the so-called plan to reduce delisting costs... is simply unnecessary!

Tesla is now only a very small company, with a total share capital of 70 million shares.

Even if it is delisted at a price of US$120 per share, the total market value will be about US$8.5 billion. About 25% of the shareholders will sell their shares during the delisting process, and the funds required will be US$2 billion to US$2.5 billion.

Nothing at all.

Now it seems that Tesla's stock price is quite high, but it is still far from it!

The reason why Tesla's stock price surged some time ago is because Tesla launched the mass consumer-grade Model S.

The reason why the stock price has fallen recently is that on the one hand, there has been a lot of negative news about Model S, on the other hand, the cost and price of Model S are too high, and the production capacity has never been increased, and supply exceeds demand.

As long as the domestic market is promoted, the troubles of cost and production capacity can be solved.

Both Zhou Buqi and Musk have expressed their opinions, and Larry Fink can no longer persist. However, in terms of cooperation, he has chosen a very conservative strategy.

His main option is debt financing rather than equity financing.

In other words, Black Rock Capital will provide money to help Tesla delist, but most of the money will not be used to purchase Tesla stock, but will be lent to Tesla.

When Tesla has money in the future, it can just return the money to Black Rock Capital. The annual interest rate can be lower, 8%-9% is fine. If Tesla cannot afford to repay the debt after maturity, it will conduct a debt-for-equity swap.

Zhou Buqi readily accepted.

I wish it was a debt model.

I think Larry Fink is really conservative enough. No wonder that for a capital institution that manages trillions of dollars in assets, his personal wealth is only over a billion dollars.

In contrast, Icahn Capital, another delisting partner, is different.

Carl Icahn has never played with debt. His style is fierce and bold. He has always played with equity. It’s no surprise this time, as Icahn Capital will put up no less than US$300 million in chips to support Tesla’s delisting!

The requirement is that after Tesla is delisted, it must be relisted within five years. Once it cannot go public, Tesla must buy back the shares he holds at an annual interest rate of 16%.

It's probably settled.

In addition, Zhou Buqi will also contribute a sum of money to participate.

…

It will be fine in the afternoon.

Musk is an avid game enthusiast. He has been playing since he was a few years old. He is still very enthusiastic in his forties and wants to visit Changyou's US headquarters.

Zhou Buqi looked at his bloodshot eyes and was a little worried, "How about you go to the hotel and take a rest? There will be a Metropolitan Museum of Art charity dinner tonight."

Musk shook his head, "It's okay, I'm okay."

Zhou Buqi frowned, "Elon, your mental state is not right."

"I'm okay."

Musk looked determined.

Zhou Buqi is very familiar with him, and he is also very familiar with his current actor wife Tanlula, who was divorced and then remarried. Tanlula told him about it. It is said that Musk has a split personality. Some have a child-like personality and are very popular. But once he switches to a dark personality, it is best to stay away from him.

How could Zhou Buqi distinguish this? He said in a deep voice: "No, Elon, I can't take you there. Something must have happened to you. You need to rest now. I think you need to see a psychiatrist. Your mental state and spirit The situation doesn’t seem right.”

The two of them were sitting in the car.

Musk turned and looked out the window.

He also respects Zhou Buqi very much. In many of the most difficult times, Zhou Buqi was the one who helped him. He would definitely not switch to a dark personality to face Zhou Buqi.

However, some things are hard to say.

There was silence for a long time.

Musk said slowly: "I'm going to go for a swim, see what fun games there are, and relax. Because in my family... you know, I have a bastard and terrible father."

Zhou Buqi nodded, "I've heard some."

Musk turned his head and looked at him, his eyes seemed redder, like a vampire trying to suck blood, "Do you know what that bastard has done recently?"

"Um?"

"He's divorced."

"Divorce..." Zhou Buqi didn't know about other people's family affairs. "Divorce doesn't seem to be a serious matter. Didn't he divorce your mother more than 20 years ago?"

Musk said: "After the divorce, he and my sister got together."

"ah?"

Zhou Buqi's eyes widened.

I'm a little unsure about what "together" means. It shouldn't be the scariest guess, right?