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AcquireD or acquiring?
Doesn't make sense to announce if they are still buying. This is about 1/2 day volume, shouldn't make too much of a difference, right?
I believe the significant takeaway is that Elon turned down an offer of a multi-billion dollar infusion of cash so the Saudi's had to go to the secondary market for their investment.
Subtext of the Saudi stake? There's more where that came from should Tesla ever be in a pickle. Sub-subtext: If it's an existential pickle, Tesla may have to choose between surviving and selling a controlling stake to SA. However unlikely the latter may be, the prospect could be enough to account for such a high volume pop, if it's fuelled by alarmed shorts.
This entire story is totally consistent with teh past discussions about the giant Saudi storage and renewables projects. IMHO, the news is not really the share purchase. It's the Saudi position on Tesla as a supplier. We next see Tesla sales and distribution in Saudi.
So, there's no action from them now, they already accumulated some 6m shares then... which I guess reduces the pool of circulating shares if institutions don't let go of their stakes?
From some 104m back in June to 110m(+) held by institutuons out of 170m total?
This is the perfect explanation for why Elon knew the stock was going to go up. He was approached and asked to dilute TSLA.
Thus - "your short position will explode in about 3 weeks." He didn't know how long it would take for the SWF to make their announcement, that's all. So it took longer than 3 weeks.
I dunno. Look at the volume on that spike. Those are some seriously masive green candles. If anything, I'd think it would establish a new base around $355 and set us up nicely to next take on $360.