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26/ I ran out of room with this thread. So, I continue it here. Not for long, I promise.
27/ The SEC is in a difficult spot. In my lifetime, I have never witnessed a company and its CEO so brazenly defy the SEC's authority than Musk and $TSLA are doing here.
28/ This will be a fascinating drama to watch play out. So many wild cards. Elon Musk. The discretion vested in Hon. U.S. District Court Judge Natan. All the goings-on behind closed doors. The counsel being given to Murdoch, who has a lot to loose...
29/...The SEC's continuing investigation. Its ability to seek to hold $TSLA in contempt, too. And to amplify the contempt charges against Musk. The on-going DOJ investigation.
30/ In early April, $TSLA will announce Q1 delivery numbers. They will disappoint. And, the Q1 financial results will be a shock as well, unless Tesla pulls some accounting gimmickry with FSD accounting.
31/ Worse, it will be apparent that the growth story is well and truly over. The hope of further profits is over. Tesla lacks cash for Cap Ex to put more product in the pipeline. Analyst downgrades will multiply. Moodys seems ready to downgrade both the company and its bonds.
32/ This is a tragedy. It did not have to be. The SolarCity acquisition did not have to happen. The absurd decision to try to be a mass market car company did not have to happen. An intelligent reorganization could have salvaged many jobs and the brand.
33/ But that was all before "funding secured." We are well past that now. A sociopath is driving the car at $TSLA. In the weeks ahead, we'll see whether anyone has the courage to wrest the steering wheel from his iron grip. <fin>
34/ Probably worth noting all this kicked off with me apologizing for @CGasparino for his claimed scoop that Williams & Connolly may be re-entering the case. I found that to be improbable. Still do, but trying to keep an open mind.
