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1,098,841 Views • Feb 3, 2022 • Click to toggle off description
In 2017 Tesla raised money from a range of banks by offering convertible bonds.
Convertible bonds can be converted to stock in a company in a case where the company fails to make repayments so they are safer for banks than traditional bonds and as such attract a lower interest rate.
JP Morgan further secured their position by entering into options contracts which gave them the right but not the obligation to sell shares at a fixed price. This meant if Tesla went bankrupt they could still get their money back.
The banks only risk now was the cost of the options contracts they were buying, a risk that hurt them greatly when Elon made his now infamous tweet about taking tesla private.
This cost the bank a reported 162 million dollars in additional premiums. Tesla’s defence has so far amounted to “it was just a prank bro”.
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Views : 1,098,841
Genre: Education
Date of upload: Feb 3, 2022 ^^
Rating : 4.909 (1,225/52,405 LTDR)
97.72% of the users lieked the video!!
2.28% of the users dislieked the video!!
User score: 96.58- Overwhelmingly Positive
RYD date created : 2022-03-11T15:04:39.91446Z
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YouTube Comments - 957 Comments
Top Comments of this video!! :3
JPM looses 162 Million ....."It was just a prank Bro" Hahaha.
3.5K |
How many times has JP Morgan been fined for manipulating precious metals?
And they continue to do it.
1.5K |
The financial system is so fragile that even a joke can cause it to panic.
1K |
Tesla has all the evidence they need. Did they not watch his SNL appearance?
439 |
It would be cool if you did a video on this, to go deeper into the issue, and give a more thorough explanation of what's going on.
924 |
100 years ago JP Morgan fought with Tesla. Today JP Morgan fights with Tesla. I guess we know what JP Morgan will be doing 100 years from now.
67 |
"JP Morgan is Suing Telsa...". Telsa???
38 |
And all holders of silver should be suing JP Morgan for market manipulation.
144 |
I completely expected the “convertible bonds” to be loans backed by convertibles that Tesla would eventually produce. Like, “Hey Elon, you defaulted on your bond.” “Oh, yeah, sorry. Here’s your convertible.” “…..wait.”
437 |
I don’t care what you think of Elon, I will never side with JPMorgan.
237 |
I says good. About damn time it’s a bank that gets the shit end of the stick!
17 |
Actually Tesla’s Defence is the complete opposite of what’s presented here. I have to say this is sad for me because I trusted this channel.
42 |
It's amazing how super crooks JP Morgan can sue anyone
18 |
Jokes aside, I actually believe that, in the long run, going public often does more harm than good, and that privatizing the company would be the best possible thing for the most people.
14 |
1. This case and the defenses used will be different depending on what jp morgan's cause of action is. (Libel, negligence, etc.)
I see no way JP Morgan can reasonably win this case.
If they sue for libel, they'll just immediately lose because it's a well established general rule that you cannot engage in libel in a joke like that.
If they sue for negligence, at least under common law they wouldn't win because JP Morgan assumed risk of market fluctuations, Elon owed no duty to them.
The only way JP Morgan can win is if the SEC intervenes and provides some evidence that Elon's tweet constituted a financially negligent act, but again jokes are generally not negligence.
I don't know much about financial law but that's my 1 minute breakdown from my general knowledge of torts law.
46 |
If you lose 162 million on one of the most volatile mainstream stocks on the market, that's on you. Tesla's stock has been known even years before this to rapidly change based on arbitrary factors like Elon's tweets.
7 |
So now a bank gets mad that someone gave them a Taste of their own medicine LMAO!
25 |
Elon: I did it for the memes. :D
50 |
Elon changed his position title to "Techno King" From CEO...
71 |
@SSFYHHH
2 years ago
"I'm sorry, that's just my uncle Elon. Ignore him."
4K |