Billionaire Elon Musk has warned that what he did — borrowing up to the value of the security — risks causing a “mass panic” in the stock market. I’m here.
“I plan to avoid margin debt in a volatile stock market,” Musk said in an all-in-one podcast posted Friday. “Something big is happening in a bear market.” The Tesla CEO bought Twitter earlier this year for $44 billion, leaving the company $13 billion in debt. When we add up, we have billions of dollars of our own money.
Bloomberg reports that Musk’s bankers are considering new margin loans backed by Tesla stock.
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Tesla’s margin and loan talks show Musk and the bank are getting serious. He also sold about $40 billion worth of Tesla stock. This brought the share price to its lowest level in two years. After the recent plunge, Musk said he would sell shares again this week, adding that the hiatus could last about two years. it is also read
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Given that the billionaire has already mortgaged Tesla shares, it’s ironic that Musk has warned for at least the second time this month.
Musk pledged 92 million Tesla shares as collateral by December 2020, according to an April 2022 SEC filing. Long-term potential beyond Elon Musk (@elonmusk) December 9, 2022, In his podcast, Musk reiterated his belief that the economy is tied up. A downturn and a recession could happen in 2009. The economy is not eternal, and neither is the recession.
Panic Danger: Elon Warns About Margin Debt
New margin loans backed by Tesla stock could replace some of the high-interest debt Musk tweeted about, and Musk is solely responsible for paying it off.
Amid the potential for a “mass panic” in the stock market, billionaire Elon Musk is doing what he does. Doing this is not recommended.
“My advice is to put debt on margin in a volatile stock market,” Musk said on a podcast released Friday. “Smart money, keep the gunpowder dry.”. “In a falling market, very extreme things can happen.”
When the Tesla CEO bought Twitter for $44 billion earlier this year, he invested billions of his money and left the company with $13 billion in debt.
According to Bloomberg News, Tesla’s new equity-margin loan will likely replace some of the high-interest Twitter debt Musk will pay off himself…
He also sold about $40 billion worth of Tesla stock, sending the stock down to a two-year low. After the recent sale, Musk reiterated this week that he would halt asset sales, suggesting the moratorium could be around two years.
Interestingly, Musk’s warnings (at least the second in a month) came after he pledged Tesla’s assets. According to April 2022 filings with the SEC, as of December 2020, Musk held 92 million shares of Tesla stock as collateral.
Elon also reiterated throughout his podcast his feelings that the economy is slowing down due to the recession and could become more or less severe in 2009.
“My best guess is that it will be in the second quarter of 2024, after a year or year and a half of hurricane season,” Musk said.”Booms and busts don’t last forever, and neither do bad times.”
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“I strongly recommend against taking on margin debt in a volatile stock market,” Musk said on Friday’s Inclusive podcast. “You may enjoy a bear market.”
The Tesla CEO invested billions of his own money and took on $13 billion in debt when he bought Twitter for US$44 billion (RM194.68 billion) earlier this year. Bloomberg reports that Musk’s bankers are considering replacing some of the high-interest debt he’s racked up at Twitter with a new Tesla stock loan he’s responsible for.
He also sold about $40 billion of Tesla stock, sending the stock to its lowest level in two years. After the recent crash, Musk confirmed last week that he would stop selling shares, adding that the delay could be as long as two years.
Elon Musk warns against margins as markets risk ‘massive panic’
(Bloomberg) — Billionaire Elon Musk has warned against margin lending, citing the risk of a “massive panic” in the stock market during a potential economic slowdown.
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“I’d recommend being short on cash rather than being on the sidelines in a volatile stock market,” Musk said in an all-around podcast released Friday. You can do extreme things.”
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CEO of Tesla. He invested millions of dollars of his own money and owed Twitter Inc. his $13 billion debt earlier this year. He bought it for $44 billion. Bloomberg News reports that Musk bankers are considering being held liable to pay off some of Twitter’s high-interest debt with a new margin loan backed by Tesla stock.
Moscow-Tesla talks show growing pressure on bank margins
Tesla sold about $40 billion worth of stock, pushing the stock to its lowest level in two years. After the previous sale, Musk said it would stop selling shares again this week, saying the hiatus would last about two years.
In the podcast, Musk emphasized his belief that the economy can’t wait to go into recession and be as big as it was in 2009.
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“The weather will be stable for a year and a half, and the dawn will start to appear in the second half of 2024,” Musk said. “No boom or bust lasts forever.”