Profile - To The Moon

Silam

Posts · 3Posts · 3
Following · 0Following · 0
Followers · 0Followers · 0

- SilamSilam
  ·2021-07-12
  Good
  Tesla shares rose 1% in premarket trading,as receiving a flood of orders in China for Model Y.
  Tesla shares rose 1% in premarket trading,as receiving a flood of orders in China for Model Y. Tesla
  Tesla shares rose 1% in premarket trading,as receiving a flood of orders in China for Model Y.
  155 Comment
  2
  Share
  Report
- SilamSilam
  ·2021-07-12
  Good
  Musk under fire again: CEO to testify over Tesla acquisition
  In the runup to Tesla Inc.'s 2016 acquisition of a company called SolarCity, Elon Musk hailed the deal as a “no brainer" — a purchase that would combine the leading maker of electric vehicles with a manufacturer of solar panels that can recharge EVs.On Monday in the Delaware Court of Chancery, the Tesla CEO will testify about the $2.5 billion deal in a shareholder lawsuit that alleges that Tesla's acquisition was rife with conflicts of interest, overlooked SolarCity's fundamental weaknesses and
  Musk under fire again: CEO to testify over Tesla acquisition
  198 Comment
  1
  Share
  Report
- SilamSilam
  ·2021-07-12
  Good
  Sorry, this post has been deleted
  224 Comment
  Like
  Share
  Report

Most Discussed

Terms and Conditions·Privacy Policy

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email：uservice@ttm.financial

{"i18n":{"language":"en_US"},"isCurrentUser":false,"userPageInfo":{"id":"4088303783078550","uuid":"4088303783078550","gmtCreate":1625200855277,"gmtModify":1625200855277,"name":"Silam","pinyin":"silam","introduction":"","introductionEn":null,"signature":"","avatar":"https://static.laohu8.com/default-avatar.jpg","hat":null,"hatId":null,"hatName":null,"vip":1,"status":2,"fanSize":0,"headSize":5,"tweetSize":3,"questionSize":0,"limitLevel":999,"accountStatus":4,"level":{"id":0,"name":"","nameTw":"","represent":"","factor":"","iconColor":"","bgColor":""},"themeCounts":0,"badgeCounts":0,"badges":[],"moderator":false,"superModerator":false,"manageSymbols":null,"badgeLevel":null,"boolIsFan":false,"boolIsHead":false,"favoriteSize":0,"symbols":null,"coverImage":null,"realNameVerified":"success","userBadges":[{"badgeId":"972123088c9646f7b6091ae0662215be-1","templateUuid":"972123088c9646f7b6091ae0662215be","name":"Elite Trader","description":"Total number of securities or futures transactions reached 30","bigImgUrl":"https://static.tigerbbs.com/ab0f87127c854ce3191a752d57b46edc","smallImgUrl":"https://static.tigerbbs.com/c9835ce48b8c8743566d344ac7a7ba8c","grayImgUrl":"https://static.tigerbbs.com/76754b53ce7a90019f132c1d2fbc698f","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.29","exceedPercentage":"60.93%","individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100},{"badgeId":"7a9f168ff73447fe856ed6c938b61789-1","templateUuid":"7a9f168ff73447fe856ed6c938b61789","name":"Knowledgeable Investor","description":"Traded more than 10 stocks","bigImgUrl":"https://static.tigerbbs.com/e74cc24115c4fbae6154ec1b1041bf47","smallImgUrl":"https://static.tigerbbs.com/d48265cbfd97c57f9048db29f22227b0","grayImgUrl":"https://static.tigerbbs.com/76c6d6898b073c77e1c537ebe9ac1c57","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1102},{"badgeId":"a83d7582f45846ffbccbce770ce65d84-1","templateUuid":"a83d7582f45846ffbccbce770ce65d84","name":"Real Trader","description":"Completed a transaction","bigImgUrl":"https://static.tigerbbs.com/2e08a1cc2087a1de93402c2c290fa65b","smallImgUrl":"https://static.tigerbbs.com/4504a6397ce1137932d56e5f4ce27166","grayImgUrl":"https://static.tigerbbs.com/4b22c79415b4cd6e3d8ebc4a0fa32604","redirectLinkEnabled":0,"redirectLink":null,"hasAllocated":1,"isWearing":0,"stamp":null,"stampPosition":0,"hasStamp":0,"allocationCount":1,"allocatedDate":"2021.12.21","exceedPercentage":null,"individualDisplayEnabled":0,"backgroundColor":null,"fontColor":null,"individualDisplaySort":0,"categoryType":1100}],"userBadgeCount":3,"currentWearingBadge":null,"individualDisplayBadges":null,"crmLevel":1,"crmLevelSwitch":0,"location":null,"starInvestorFollowerNum":0,"starInvestorFlag":false,"starInvestorOrderShareNum":0,"subscribeStarInvestorNum":0,"ror":null,"winRationPercentage":null,"showRor":false,"investmentPhilosophy":null,"starInvestorSubscribeFlag":false},"page":1,"watchlist":null,"tweetList":[{"id":146256564,"gmtCreate":1626085158958,"gmtModify":1703753021240,"author":{"id":"4088303783078550","authorId":"4088303783078550","name":"Silam","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088303783078550","authorIdStr":"4088303783078550"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/146256564","repostId":"1176844993","repostType":4,"repost":{"id":"1176844993","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1626079357,"share":"https://ttm.financial/m/news/1176844993?lang=&edition=fundamental","pubTime":"2021-07-12 16:42","market":"us","language":"en","title":"Tesla shares rose 1% in premarket trading,as receiving a flood of orders in China for Model Y.","url":"https://stock-news.laohu8.com/highlight/detail?id=1176844993","media":"Tiger Newspress","summary":"Tesla shares rose 1% in premarket trading,as receiving a flood of orders in China for Model Y.\nTesla","content":"<p><b>Tesla</b>&nbsp;shares&nbsp;rose 1% in premarket&nbsp;trading,as&nbsp;receiving a flood of orders in China&nbsp;for Model Y.</p>\n<p><img src=\"https://static.tigerbbs.com/c01d8b6dec80a6307557a1c8d41cbe43\" tg-width=\"1282\" tg-height=\"599\" referrerpolicy=\"no-referrer\"><b>Tesla Inc</b>&nbsp;recently launched Model Y standard variant is receiving a flood of orders in China, cnEVpost&nbsp;reported&nbsp;on Monday, citing Securities Daily.</p>\n<p>Customers in China who have placed orders will have to wait until September for deliveries, the report noted.</p>\n<p>The Palo Alto, California-based company&nbsp;is planning to run its Shanghai Gigafactory at full capacity to ensure availability, cnEVpost, citing a staff member at the electric vehicle company’s experience center.</p>\n<p>Tesla’s locally-built Model Y standard variant in China&nbsp;qualifies for state-led subsidiesas it is sold under RMB 300,000 ($46,000).</p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tesla shares rose 1% in premarket trading,as receiving a flood of orders in China for Model Y.</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTesla shares rose 1% in premarket trading,as receiving a flood of orders in China for Model Y.\n</h2>\n\n<h4 class=\"meta\">\n\n\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time\">2021-07-12 16:42</p>\n</div>\n\n</a>\n\n\n</h4>\n\n</header>\n<article>\n<p><b>Tesla</b>&nbsp;shares&nbsp;rose 1% in premarket&nbsp;trading,as&nbsp;receiving a flood of orders in China&nbsp;for Model Y.</p>\n<p><img src=\"https://static.tigerbbs.com/c01d8b6dec80a6307557a1c8d41cbe43\" tg-width=\"1282\" tg-height=\"599\" referrerpolicy=\"no-referrer\"><b>Tesla Inc</b>&nbsp;recently launched Model Y standard variant is receiving a flood of orders in China, cnEVpost&nbsp;reported&nbsp;on Monday, citing Securities Daily.</p>\n<p>Customers in China who have placed orders will have to wait until September for deliveries, the report noted.</p>\n<p>The Palo Alto, California-based company&nbsp;is planning to run its Shanghai Gigafactory at full capacity to ensure availability, cnEVpost, citing a staff member at the electric vehicle company’s experience center.</p>\n<p>Tesla’s locally-built Model Y standard variant in China&nbsp;qualifies for state-led subsidiesas it is sold under RMB 300,000 ($46,000).</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1176844993","content_text":"Tesla shares rose 1% in premarket trading,as receiving a flood of orders in China for Model Y.\nTesla Inc recently launched Model Y standard variant is receiving a flood of orders in China, cnEVpost reported on Monday, citing Securities Daily.\nCustomers in China who have placed orders will have to wait until September for deliveries, the report noted.\nThe Palo Alto, California-based company is planning to run its Shanghai Gigafactory at full capacity to ensure availability, cnEVpost, citing a staff member at the electric vehicle company’s experience center.\nTesla’s locally-built Model Y standard variant in China qualifies for state-led subsidiesas it is sold under RMB 300,000 ($46,000).","news_type":1},"isVote":1,"tweetType":1,"viewCount":155,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":146253972,"gmtCreate":1626084917896,"gmtModify":1703753015645,"author":{"id":"4088303783078550","authorId":"4088303783078550","name":"Silam","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088303783078550","authorIdStr":"4088303783078550"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/146253972","repostId":"1114204942","repostType":4,"repost":{"id":"1114204942","kind":"news","pubTimestamp":1626082231,"share":"https://ttm.financial/m/news/1114204942?lang=&edition=fundamental","pubTime":"2021-07-12 17:30","market":"us","language":"en","title":"Musk under fire again: CEO to testify over Tesla acquisition","url":"https://stock-news.laohu8.com/highlight/detail?id=1114204942","media":"AP","summary":"In the runup to Tesla Inc.'s 2016 acquisition of a company called SolarCity, Elon Musk hailed the deal as a “no brainer\" — a purchase that would combine the leading maker of electric vehicles with a manufacturer of solar panels that can recharge EVs.On Monday in the Delaware Court of Chancery, the Tesla CEO will testify about the $2.5 billion deal in a shareholder lawsuit that alleges that Tesla's acquisition was rife with conflicts of interest, overlooked SolarCity's fundamental weaknesses and ","content":"<p>In the runup to Tesla Inc.'s 2016 acquisition of a company called SolarCity, Elon Musk hailed the deal as a “no brainer\" — a purchase that would combine the leading maker of electric vehicles with a manufacturer of solar panels that can recharge EVs.</p>\n<p>It didn't exactly work out that way.</p>\n<p>On Monday in the Delaware Court of Chancery, the Tesla CEO will testify about the $2.5 billion deal in a shareholder lawsuit that alleges that Tesla's acquisition was rife with conflicts of interest, overlooked SolarCity's fundamental weaknesses and unsurprisingly failed to produce the profits Musk had promised.</p>\n<p>Questioned under oath, Musk plans to defend the purchase as a justifiable acquisition.</p>\n<p>At the time of the all-stock purchase, Musk was SolarCity's largest stakeholder and its chairman. Seven shareholder lawsuits, consolidated into one, alleged that Tesla directors breached their fiduciary duties in bowing to Musk’s wishes and agreeing to buy the struggling company. In what the plaintiffs call a clear conflict of interest, SolarCity had been founded by Musk and two of his cousins, Lyndon and Peter Rive.</p>\n<p>Last August, a judge approved a $60 million settlement that resolved claims made against all the directors on Tesla's board except Musk without any admission of fault. That left Musk, who refused to settle, as the sole remaining defendant. The trial that begins Monday had been scheduled for March of last year but was postponed because of the viral pandemic.</p>\n<p>Daniel Ives, an analyst at Wedbush Securities, called the acquisition a “clear black eye” for Musk and Tesla, in large part because SolarCity has failed to turn a profit.</p>\n<p>“It basically was putting good money after bad,” Ives said. “For all the successes and all of the unimaginable heights Musk has achieved, this is one of the lowlights.”</p>\n<p>Most investors, Ives said, place no value on the company's solar business.</p>\n<p>“I just think Musk and Tesla underestimated the challenges and the hurdles that the business brings,” he said.</p>\n<p>That said, Ives said he thought Tesla's energy business could still become “modestly successful.”</p>\n<p>Tesla, which has disbanded its media relations department, did not answer a message Friday seeking comment about the lawsuit. In its 2020 annual report, the company argued that the lawsuit was without merit and that Tesla would vigorously defend itself.</p>\n<p>“We are unable to estimate the possible loss or range of loss, if any, associated with these claims,” the company report said.</p>\n<p>Tesla's energy generation and storage business generated $1.9 billion in revenue last year — 24% more than it did the previous year. Much of that revenue came from selling battery storage units. Tesla doesn't specify whether the business made a profit, and it also has debt and expenses.</p>\n<p>The lawsuit filed by the plaintiffs contends that Musk drove the decision to acquire SolarCity despite his clear-cut conflict of interest.</p>\n<p>Musk has a history of fighting government agencies and lawsuits. He was forced to pay a $20 million fine to the Securities and Exchange Commission for making statements on Twitter about having the money to take the company private when he didn't. But he won a defamation lawsuit that was filed by a British diver involved in the rescue of a Thai soccer team that was trapped in a flooded cave. Musk had called the man “pedo guy” on Twitter.</p>\n<p>Even if the trial ends with Musk having to pay personally for the whole SolarCity deal, $2.5 billion won't much hurt the world's third-wealthiest person. Forbes magazine has estimated that Musk is worth roughly $163 billion.</p>\n<p>Ives suggested that while any such payment wouldn't seriously affect Musk's wealth, it would damage his reputation for choosing acquisitions.</p>\n<p>Musk is fighting the lawsuit after others have settled “because that’s what Musk does,” Ives said. “I think Elon believes this was the right deal and still does.”</p>","source":"lsy1612507957220","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Musk under fire again: CEO to testify over Tesla acquisition</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nMusk under fire again: CEO to testify over Tesla acquisition\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-12 17:30 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/musk-under-fire-again-ceo-014606410.html><strong>AP</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>In the runup to Tesla Inc.'s 2016 acquisition of a company called SolarCity, Elon Musk hailed the deal as a “no brainer\" — a purchase that would combine the leading maker of electric vehicles with a ...</p>\n\n<a href=\"https://finance.yahoo.com/news/musk-under-fire-again-ceo-014606410.html\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"TSLA":"特斯拉"},"source_url":"https://finance.yahoo.com/news/musk-under-fire-again-ceo-014606410.html","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1114204942","content_text":"In the runup to Tesla Inc.'s 2016 acquisition of a company called SolarCity, Elon Musk hailed the deal as a “no brainer\" — a purchase that would combine the leading maker of electric vehicles with a manufacturer of solar panels that can recharge EVs.\nIt didn't exactly work out that way.\nOn Monday in the Delaware Court of Chancery, the Tesla CEO will testify about the $2.5 billion deal in a shareholder lawsuit that alleges that Tesla's acquisition was rife with conflicts of interest, overlooked SolarCity's fundamental weaknesses and unsurprisingly failed to produce the profits Musk had promised.\nQuestioned under oath, Musk plans to defend the purchase as a justifiable acquisition.\nAt the time of the all-stock purchase, Musk was SolarCity's largest stakeholder and its chairman. Seven shareholder lawsuits, consolidated into one, alleged that Tesla directors breached their fiduciary duties in bowing to Musk’s wishes and agreeing to buy the struggling company. In what the plaintiffs call a clear conflict of interest, SolarCity had been founded by Musk and two of his cousins, Lyndon and Peter Rive.\nLast August, a judge approved a $60 million settlement that resolved claims made against all the directors on Tesla's board except Musk without any admission of fault. That left Musk, who refused to settle, as the sole remaining defendant. The trial that begins Monday had been scheduled for March of last year but was postponed because of the viral pandemic.\nDaniel Ives, an analyst at Wedbush Securities, called the acquisition a “clear black eye” for Musk and Tesla, in large part because SolarCity has failed to turn a profit.\n“It basically was putting good money after bad,” Ives said. “For all the successes and all of the unimaginable heights Musk has achieved, this is one of the lowlights.”\nMost investors, Ives said, place no value on the company's solar business.\n“I just think Musk and Tesla underestimated the challenges and the hurdles that the business brings,” he said.\nThat said, Ives said he thought Tesla's energy business could still become “modestly successful.”\nTesla, which has disbanded its media relations department, did not answer a message Friday seeking comment about the lawsuit. In its 2020 annual report, the company argued that the lawsuit was without merit and that Tesla would vigorously defend itself.\n“We are unable to estimate the possible loss or range of loss, if any, associated with these claims,” the company report said.\nTesla's energy generation and storage business generated $1.9 billion in revenue last year — 24% more than it did the previous year. Much of that revenue came from selling battery storage units. Tesla doesn't specify whether the business made a profit, and it also has debt and expenses.\nThe lawsuit filed by the plaintiffs contends that Musk drove the decision to acquire SolarCity despite his clear-cut conflict of interest.\nMusk has a history of fighting government agencies and lawsuits. He was forced to pay a $20 million fine to the Securities and Exchange Commission for making statements on Twitter about having the money to take the company private when he didn't. But he won a defamation lawsuit that was filed by a British diver involved in the rescue of a Thai soccer team that was trapped in a flooded cave. Musk had called the man “pedo guy” on Twitter.\nEven if the trial ends with Musk having to pay personally for the whole SolarCity deal, $2.5 billion won't much hurt the world's third-wealthiest person. Forbes magazine has estimated that Musk is worth roughly $163 billion.\nIves suggested that while any such payment wouldn't seriously affect Musk's wealth, it would damage his reputation for choosing acquisitions.\nMusk is fighting the lawsuit after others have settled “because that’s what Musk does,” Ives said. “I think Elon believes this was the right deal and still does.”","news_type":1},"isVote":1,"tweetType":1,"viewCount":198,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":146259875,"gmtCreate":1626084879397,"gmtModify":1703753014497,"author":{"id":"4088303783078550","authorId":"4088303783078550","name":"Silam","avatar":"https://static.laohu8.com/default-avatar.jpg","crmLevel":1,"crmLevelSwitch":0,"followedFlag":false,"idStr":"4088303783078550","authorIdStr":"4088303783078550"},"themes":[],"htmlText":"Good&nbsp;","listText":"Good&nbsp;","text":"Good","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/146259875","repostId":"1114863871","repostType":4,"isVote":1,"tweetType":1,"viewCount":224,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"defaultTab":"posts","isTTM":true}