Elon Musk loses $20B since SNL..would you believe?

[iTradeChips]

He seriously doesn't care. He himself publicly said that the Tesla stock is way too expensive. He really doesn't care. It is just a number your calculator shows when you multiply his number of stocks with the stock price. Put it whatever way you wish, Elon Musk is among the top two richest men in the world and whatever he wants to do today or tomorrow, funding would never be a problem for him. He signed contracts with NASA and I am sure they know how this guy works and yet signed the contracts.

Now I am just curious at what you have said, I mean I know the guy and all but I don't really know how he does his business. You have said that he doesn't care about the prices of his stocks and says that it is valued very high. I mean any CEO or any businessman wants to see the stocks of his company become very valuable and very high but you say Elon does not care about that. With that said, is it because his company in part is also being funded by NASA or any other company that is sharing projects with Elon? He does not worry about money because he can get it without him missing a sweat, is that right?

[gurunanakji777]

Probably from BTC he won't be at a loss. I believe he will buy more the dips and we should understand that we should not take his comments seriously but he is a big investor of bitcoin so whenever he speaks about crypto market fluctuates generally but the statement about Tesla halting Btc payments cars certainly affect the market to some extent but in somedays, we all will forget and the market will bounce back. There might be some issues to accept BTC as payment so he said like this but slowly we will see his statements won't affect the market.

[kryptqnick]

Well, since his net worth is extremely huge, I think it's not a big loss to him. But since Bitcoin suffered a loss, I think it's fair that so did Tesla (if it's true that Tesla's stock was affected by it). Musk shouldn't have cancelled Bitcoin payments, this option was boosting both the popularity of Tesla and of Bitcoin. He cites environmental concerns, but that doesn't account for the environmental impact of processing fiat by banks and for the fact that electricity sources can be different. I mean, his own cars can raise concerns similar in nature to those of mining Bitcoin because in both cases we're talking about increased electricity usage.

[Ozero]

Well, since his net worth is extremely huge, I think it's not a big loss to him. But since Bitcoin suffered a loss, I think it's fair that so did Tesla (if it's true that Tesla's stock was affected by it). Musk shouldn't have cancelled Bitcoin payments, this option was boosting both the popularity of Tesla and of Bitcoin. He cites environmental concerns, but that doesn't account for the environmental impact of processing fiat by banks and for the fact that electricity sources can be different. I mean, his own cars can raise concerns similar in nature to those of mining Bitcoin because in both cases we're talking about increased electricity usage.

It is quite obvious that what Elon Musk did not say about the harmfulness of bitcoin mining to the environment is the reason for his refusal to sell electric cars for bitcoins. There is probably another reason here that Elon Musk did not say. In any case, he could have come up with a more neutral reason that would not directly affect the price of bitcoin.
  Most likely, he was accustomed to the fact that any of his statements are perceived positively by the society and did not foresee such a negative reaction both to the cryptocurrency market and to his Tesla shares.

[bbc.reporter]

@Botnake. I shake my head. This is just another clickbait storyline from bitcoin news media. Tesla’s stock has been falling already since February, after they declared that they bought bitcoin and have begun accepting it as payment.

What could be the reason why the stocks fell when they starting to accept bitcoin?
I don't see the logical reason why it dumps, can you please explain that here?

I speculate the real reason why Elon rugpulled bitcoin is because Tesla is seeking entry into the renewable fuel credit market. They have always needed those government perks for the company.

Maybe I would agree with this, at the end of the day, a company that is regulated and supported by the government can't go full crypto, that's why it's so frustrating to see people riding the FOMO without thinking that the government could still come to play and on Elon's business as well or they need support by the government.

The bad news is coming now, maybe it's the end of Elon's game?

I am not quite certain why Tesla stock is falling. However, if you read my post on my speculation on why Tesla bought and accepted bitcoin for payment, Tesla was summoned by the Chinese regulators on February because there were many complaints about the safety of Tesla cars. The stocks were being dumped already.

Also, I reckon Ark Invest have also been dumping some of their Tesla stock because the market for technology and growth companies appear to be bearish. Microstrategy stock is also dumping.

[cheezcarls]

Here's the complete article.

Elon Musk loses $20B since SNL, as Michael Saylor comes out firing

Tesla stock has dipped 14% since Elon Musk appeared on SNL, with Musk estimated to have lost $20 billion in that time frame.

Elon Musk has reportedly lost $20 billion since his May 8 appearance on Saturday Night live, as the news of Tesla halting BTC payments for cars continues to send shockwaves across markets.

On May 7, the day before Musk made his appearance on SNL, Tesla stock was sitting at $669. In the week since the stock has declined 14% to sit around $573. According to Forbes estimates, this sudden drop has seen Musk’s $166 billion net worth plunge by $20 billion down to around $145.5 billion.

The 14% drop this week adds to an overall downward trend for Tesla stock over the past 30 days. On April 14 TSLA shares were sitting at $784. Today's price of $573 marks a 26.91% decrease over this period according to data from Tradingview.

If this is true, then why Elon would make such a stupid action?

He is not stupid, let's say he loses in this portion but for sure he has made a profit more than he loses.

That’s karma for him. But ever since he made that filthy comment about Tesla not accepting Bitcoin anymore due to “environmental” concerns, I truly lost my respect to him. For just a statement like that, it wiped out billions in market capitalization, only for DOGE to come up a few days later with his next ridiculous statement.

We can’t just let him control the whole market with his strong influence, you know? Of course, the bears would be happy because they can buy back at discounted prices, but eventually the market would quickly recover.

[hazenyc]

He seriously doesn't care. He himself publicly said that the Tesla stock is way too expensive. He really doesn't care. It is just a number your calculator shows when you multiply his number of stocks with the stock price. Put it whatever way you wish, Elon Musk is among the top two richest men in the world and whatever he wants to do today or tomorrow, funding would never be a problem for him. He signed contracts with NASA and I am sure they know how this guy works and yet signed the contracts.

Now I am just curious at what you have said, I mean I know the guy and all but I don't really know how he does his business. You have said that he doesn't care about the prices of his stocks and says that it is valued very high. I mean any CEO or any businessman wants to see the stocks of his company become very valuable and very high but you say Elon does not care about that. With that said, is it because his company in part is also being funded by NASA or any other company that is sharing projects with Elon? He does not worry about money because he can get it without him missing a sweat, is that right?

Let me correct "he doesn't care" to "he doesn't care anymore". He is acting the way he is today because he is as rich as he is. If he was still fighting for a final round of funding before going bankrupt I doubt he would have smoked weed on a podcast with Joe Rogan. Now there is no way for him to lose eventually. If his net worth drops from $160 bn to $140 bn I promise you he doesn't care. That guy has lots of businesses running and now also takes the time to play around with DOGE.

[7788bitcoin]

If this is true, then why Elon would make such a stupid action?
He is not stupid, let's say he loses in this portion but for sure he has made a profit more than he loses.

Elon Musk has portrayed a character that he does not care if he looses money, he commented about his Tesla stocks in the past that triggered a collapse and he keeps on repeating that with the cryptocurrency market as well. Yet to have a clarity on how much money he is loosing with these comments and i think he is enjoying these notoriety and the influence he has over the entire financial market. 

[boyptc]

This is just another clickbait storyline from bitcoin news media. Tesla’s stock has been falling already since February, after they declared that they bought bitcoin and have begun accepting it as payment.

I speculate the real reason why Elon rugpulled bitcoin is because Tesla is seeking entry into the renewable fuel credit market. They have always needed those government perks for the company.

Then that means all of the media hype that he does is hiding that there have already been losses that he has made since February.

And whatever he does is just another show to make his company pump again and just using the crypto market for that.

[peter0425]

he deserve that  because he is stupid and not deserve to be respected .

I should laugh at Him if this is true ..


He should have Lose more than that because He is such a user .

The reason that the stocks dipped was that they find his appearance in the show as unfunny and they don't like to invest in something that they don't find funny also they have pigs in the stock market that short the stocks so they can make a lot of money.

Funny? meaning people will invest because the thing sounds funny?