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$Beng Kuang - watch list (BEZ.SG)$ time to move!
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Nov 15 $JPMorgan (JPM.US)$ has sued $Tesla (TSLA.US)$ for $162.2 million, accusing Elon Musk's electric car company of "flagrantly" breaching a contract the two corporate giants agreed in 2014 relating to warrants Tesla sold to the bank.
Tesla in 2014 sold warrants to JPMorgan that would pay off if their "strike" price was below Tesla's share price when the warrants expired in June and July 2021.
Musk's Aug 7, 2018 tweet that he might take Tesla private at $420 per share and had "funding secured," and his subsequent announcement 17 days later that he was abandoning the plan, created significant volatility in the share price, the bank said.
On both occasions, JPMorgan adjusted the strike price "to maintain the same fair market value" as prior to the tweets.
Tesla's share price rose approximately 10-fold by the time the warrants expired this year, and JPMorgan said this required Tesla under its contract to hand over shares of its stock or cash. The bank said Tesla's failure to do that amounted to a default.
Any thoughts? Or maybe someone can explain what's going on in the case?
Source:
JPMorgan sues Tesla for $162 mln after Musk tweets soured warrant deal
Tesla in 2014 sold warrants to JPMorgan that would pay off if their "strike" price was below Tesla's share price when the warrants expired in June and July 2021.
Musk's Aug 7, 2018 tweet that he might take Tesla private at $420 per share and had "funding secured," and his subsequent announcement 17 days later that he was abandoning the plan, created significant volatility in the share price, the bank said.
On both occasions, JPMorgan adjusted the strike price "to maintain the same fair market value" as prior to the tweets.
Tesla's share price rose approximately 10-fold by the time the warrants expired this year, and JPMorgan said this required Tesla under its contract to hand over shares of its stock or cash. The bank said Tesla's failure to do that amounted to a default.
Any thoughts? Or maybe someone can explain what's going on in the case?
Source:
JPMorgan sues Tesla for $162 mln after Musk tweets soured warrant deal
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$E-mini Dow Futures(DEC4) (YMmain.US)$ nice gains
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$OIO (KUX.SG)$
BTC set a new record of nearly US$67,000 after the 1st-ever BTC futures ETC rose by nearly 5% on its debut.
Bullish comments fr legendary trader boosted sentiment. Billionaire investor Paul Tudor Jones called crypto his preferred inflation hedge over gold.
BTC set a new record of nearly US$67,000 after the 1st-ever BTC futures ETC rose by nearly 5% on its debut.
Bullish comments fr legendary trader boosted sentiment. Billionaire investor Paul Tudor Jones called crypto his preferred inflation hedge over gold.
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Elon Musk is the richest person in the world, and he is now worth as much as Bill Gates and Warren Buffett combined! How crazy! His net worth tops $230 billion, which equals around 876000 Ferrari 488s, or 250 million iPhones or 62.5 billion Big Macs!!!
Also, he wants Bezos to know he's No.1. LOL...
Musk has added more than $60 billion to his fortune this year thanks to the strong performance of $Tesla (TSLA.US)$ as well as a recent share sale at SpaceX which valued the company at $100 billion.
He's so successful in managing the company and making investments. I believe he is the best entrepreneur and investor! Even Bill Gates &his $Microsoft (MSFT.US)$ and Buffett &his $Berkshire Hathaway-A (BRK.A.US)$ can't be comparable!
Tell me your favorite CEO and his company if you disagree!
Rewards calling! Comment to win rewards!
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Also, he wants Bezos to know he's No.1. LOL...
Musk has added more than $60 billion to his fortune this year thanks to the strong performance of $Tesla (TSLA.US)$ as well as a recent share sale at SpaceX which valued the company at $100 billion.
He's so successful in managing the company and making investments. I believe he is the best entrepreneur and investor! Even Bill Gates &his $Microsoft (MSFT.US)$ and Buffett &his $Berkshire Hathaway-A (BRK.A.US)$ can't be comparable!
Tell me your favorite CEO and his company if you disagree!
Rewards calling! Comment to win rewards!
Moomoo news team and I hold the event together for a month! I will post discussions every day and Moomoo news team will support the event with reward points! We will pick the top 2 'liked' and top 3 'insightful' comments every weekday& top 10 'liked' and top 10 'insightful' comments every weekend to be the winners.
For more details, click here.
Follow me to join the latest discussion!
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$YZJ Shipbldg SGD (BS6.SG)$ 1.41 maybe possible today
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$YZJ Shipbldg SGD (BS6.SG)$ this is so interesting bid and ask almost down the middle, 1.39 bid, 1.40 ask. maybe need to create half a cent and trade will happen
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