musk and the board of directors, let's start, first off, with "new york times" believes musk and the board of directors will likely meet with the s.e.c., perhaps as soon as next week there's not a firm date we've been able to learn at this date. will the board of directors take action and will elon musk potentially take a leave of absence? jim cramer after reading article today tweeted this out, devastating "new york times" piece filled with new facts. we know the safest thing for musk right now is a medical leave. i would insist on it so, who might replace ee long musk during the interview, he made this comment regarding a potential ceo replacement at tesla. by the way, he's not planning on leaving but he says, if you have anyone who can do a better job, please let me know they can have the job. is there someone who can do the job better a lot of news in that interview. a busy week for tesla and for elon musk. back to you. >> in the meantime, phil, in terms of the actual fundamentals of the company, we live in a vacuum, correct? >> correct. >> for a couple months at least. >> we do

if it's right musk revealed sensitive corporate strategy via social media. twitter is relatively new in this context of course rules and regulations of how to make these ad hoc announcements or so it's very important but it seems to be legal i want to reach something to you from those rules on fair disclosure as they're called and it states that companies are required and i quote to distribute material information in a manner receipt reasonably designed to get that information out to the general public broadly and and exclusively. that is of course precisely what twitter does it is certainly broad it is not at all explosive anybody analysts investors anyone can have it so there you go it's a good leader it's so it's transparent but is it spot it's probably not smart and i would think it's probably not smart specifically when you look at the lawn must because you don't musk is a serial tweeter like some other people these days making the news are and he doesn't always take it seriously april fool's day this year he tweeted that test just went into bankruptcy

twitter and elon musk, elon musk must be followed by 20 million people.ock is up 12%. >> how many people follow elon musk? generally when companies release this type of announcement, michael dell is the last major company that i remember going private in this way. liz: he's got 22.3 million followers. >> usually do it through a press release put on the website so everybody in the world can see it. obviously if the sec thinks there's an issue with fair disclosure, that's one of the disclosure rules that say everybody must get the information at the same time. i think what elon musk's lawyers would say listen this guy is widely known. liz: can we take a shot on the computer. we've got the blog that he had said he would now post, and the company now has a taking tesla private blog. we're going to take a shot of this for you. >> that's what this have been -- the problem with that, liz, is that what i think people might say and it's already getting out there is that is what should have been put out immediately. not his tweet. again, he goes to 20 million peopl

arianna huffington has encouraged musk to take time off.usk responded, "ford and tesla are the only american car companies to avoid bankruptcy. i just got home from the factory. you think this is an option? it is not." joining us, an analyst who has a buy rating on the company. and liam. pierre, we don't talk so much about a ceo's sleep atterns. what do you make about his own admission that he is not sleeping or, if he is, he is sleeping at the factory? does that give you confidence or lack thereof in his performance? >> the first thing i would say that we haven't learned that much more in recent days or recent weeks. people who know elon musk, who know his work habits know that he has been behaving like that for multiple years. this is one tiny part of what makes him an exceptional ndividual. i think what we learned, especially in the interview he gave recently, i would qualify that as nothing new. he works very hard. his personal life is significantly affected by that. this has been part of his professional, entrepreneurial uccess in the

you're buying elon musk.e did what he did on the call, then followed up with some crazy tweets out of thailand suggested that elon might have lost the touch. that is why the hedge funds have been short, whether chanos or anybody else. from my point of view musk is saying you know what, i don't need this anymore? i don't want to have to explain myself to the public every three months. you know, it makes all the sense he would try to do this. >> i agree with your end point, but i want to make it clear with chanos, i have been following this, i know jim a little bit, i think he was short fundamentally on the stock. >> i think you're right. >> i don't think he was short elon. the pile-on effect did occur when he, elon musk basically had put out tweets saying lynnette lopez was being paid by the shorts. he did say that in these tweets. they were crazy. there is no sub assistant i ages to it. that led a lot of web funds to sign on to it. that he is losing it. i see people getting upset about short sellers they say

musk has just checked off a box.lion richer according to our robert frank, just since he made the tweet about a little after noon today to the point of which the stock is halted there. $851 million richer because of the price increase tweet >> i'm stock on what the former commissioner said saying, look, he could be guilty of fraud if the facts aren't true that funding isn't secure i thought it was very interesting that mr. pitt laid out this is what the sec says. >> stocks have been halted almost an hour as we've discussed earlier in the show usually when see something incorrect or not true tesla tends to be very fast to respond. in this particular case haven't necessarily gotten a response yet. i just wonder whether musk got ahead of his team in terms of putting that news out there. >> and who does that remind you of, by the way, with twitter we're waiting for news pending we don't know exactly what that news is, but we should point out that none of the subsequent tweets from mr. musk has poured water on his earlier

musk says we will not be raising equity.ot be raising equity but he has been going out into the debt markets or going out to the banks for long term loan facility. the equity holders might be ok, but i would argue you will find the funding gap will have to be filled from somewhere. one of us will have to ask what are the terms demanded in the event these are commercial bank loans that are coming in, or whether he is going back to the fixed income market or the fixed income market will want to have comfortable features? there are convertible features on the let -- the debts and loans being raised. to your point, he says china will use a loan to fund the giga factory with local debt. we will leave it there, always great to have you. -- arch bloomberg users can interact with charts shown using gtv . you can browse recent charts featured on tv, catch up on analysis and save those for future reference. this is bloomberg. ♪ this is bloomberg. ♪ ramy: i am ramy inocencio in new york. haidi: i am haidi stroud-watts in sydney. y

is elon musk a benefit to tesla? >> yes no doubt i think if he were out, the cold stock and the levitation that the stock has had on the visionary, you know status of elon musking deflate very quickly. >> he's launched the company and he's done the heavy lifting. >> he's an amazing businessman and he's done the hard work and now many would argue car companies are among the most difficult. >> and they need an operations person >> if the answer to that question is brian, if all of that is where all of the critical value is. i think you're right, karen. i'm not disagreeing with you and that would be a major concern to me. >> as a reminder, elon musk if you're watching cnbc we're not a call-in show, but we'll take your call. coming up, the sharing economy showdown we'll talk how the unicorn's like dan's uber are giving the publicly traded companies a run for their money plus jack playing defense. ahead of an apology good, but is he doing more harm than good uaimlways, live from tes sqre much more fast right after this. a

shares have been halted pending further news as we hear from airline musk -- of elon musk.e the electric carmaker right at at $420 a share. he has funding lined up. musk's feeds came moments after financial times reported that the sovereign wealth fund built a stake is much as $2.9 billion. 21st century fox has followed through on its offer to buy sky. they did not try to talk a higher bid from comcast. bit ofvious announced a $18 a share is trying to buy the 61% of sky. but it does not already own. stocks has the chance to raise his bid above comcast offer. that is your bloomberg business flash update. coming up, we are going over to the battleground state of ohio, special election in the buckeye state and other critical contest putting trump's popularity to the test. this is bloomberg. ♪ this is bloomberg. ♪ this isn't just any moving day. this is moving day with the best in-home wifi experience and millions of wifi hotspots to help you stay connected. and this is moving day with reliable service appointments in a two-hour window so you're up and running in no time. show

elon musk tweeted that funding was secured. and unless he comes up with some proof that funding was actually secured in some kind of subsequent filing then he has committed market manipulation, and he has committed market fraud. finally i would note that there's no mention ven of hiring investment banks as investment advisers or hiring outside legal counsel to even advise on a prospective transaction. so it is clear to me elon musk made this tweet while he was on his private jet without much of a thought and then the sec called the company and told them you better halt the stock and make that disclosure >> we have no idea if he was on that plane or not or how accurate flight tracker is or not. but to you, would that have to mean he knew $72 billion in total was present or much less than that given the structure he's at least mooted about >> well, legally it means that funding secured, he has to come up with how that $72 billion will come about, i e more debt, committed bank lines, committed equity furthermore there is not even

musk predicts 6000 by august. now we are expecting musk to jump on. they want answers about profit.g by to bring you all the headlines from call. , what are the headline take ways here? >> we are excited for the call. we are very much looking forward to more news about the china factory. they said china is one of the largest markets for a visa. it is also the largest for autonomous driving. we think that is the largest market opportunity ahead of tesla. we are looking forward to that. they could raise capital to support that. we are ok with that. we want them to get as many cars on the road to build their network. emily: this as trade tensions continue to rise between united states and china. in what direction they will go, we do not know. you have been diving into the numbers for the last hour or so, what else do you see that we are not looking at? >> the big question for me that has not been answered yet, we will see what happened on the call is demand. we know that tesla, based on what they are saying, they haven't even tried to sell the cars and they are selling them well. we do

musk, of course, did not sign onto the statement nor did his brother. one director is on leave, but as questions swirl around musk taking tesla private, some investors are turning to the board and wondering if they support the idea or just support musk critics have argued that the board lacks independence about a year ago they added two directors to try to beefl up the independence of a board. >>> just this year opposed the reappointment of three members saying they were too close to musk, another shareholder proposal also sought to separate musk from the chairman role. both proceedings were defeated, but his recent behave has broke -- and whether there needs to be adjustments. >> leslie, that i can you very much following the money for us >> it is extraordinary maybe the number 420 is something, but you know, when you look at the valuation. it is not that far of a reach for somebody to say, you know what if this is a 600-plus billion dollar company into the future, which people have said, if that's the case, they're still getting a deal >>> there's no

carol: it shows people love to use twitter to talk about musk. jason: from musk to bezos.e looked at the amazon market share. carol: last year amazon captured about 5% of american retail spending. jason: is that a lot? it depends on how you look at it. >> 5% is roughly the share of total u.s. retail sales that amazon is responsible for, the products that it sells to americans and that its merchant partners sell to americans. 5% of total retail sales excluding restaurant and bar transactions -- that seems like a lot for one company, but walmart is double that number. it is how you choose to interpret it. jason: i did not know what to think. carol: why is it important to have this discussion? >> there are people on the left and right of the political spectrum, including the president of the united states, who are openly asking if amazon is too powerful and should antitrust rules be used to crack down on this company. we are not antitrust attorneys. it all depends on how you look at the market. amazon has an incentive for that number to be seen as low, for these antitrust cri

we should be ready by now, to see thisnow, from elon musk.he question of course is, at what point does a regulator look at the outside of the normal bounds of reality. but i think we should not be surprised at his comments at this stage because we have heard so many of them. we have heard him complain many .imes >> to go back to what remained had mentioned as well, do you think tesla deserves a premium? 420 is a long way from the current 347 and away from your price target of 250. >> for us, we will go through a phase of between two and five or tesla will need a much judgment more capital. musk refuses to raise equity, understand that he does not want to raise capital in this situation, but at the same time, we look to the growth as being insufficient to fund the business. he is in a situation where he needs capital to aspire to that premium valuation. we think tesla will probably be for a number of years, a low-margin and low return on investment capital. what keeps the valuation a high level is the expectation of growth. right now, the prob

elon musk tweets he's considering taking tesla private. shares did pop we'll see how the stock opens this morning >>> plus, disney results were a bit of the miss. the studio and parks business soars. investors pressing bob iger. we'll fill you in on his answers. >> and snap sorars and comes bak to earth many earnings movers to get to this morning >>> tesla shares pulling bag until the premarket after rallying late. jump sparked by the midday tweet from elon musk saying he's considering taking tesla private. musk later issued a statement saying a final decision hasn't yet been made. a reason for doing this is about creating the environment for tesla to operate best. as a public company. we're subject to wild swings in our stock price that can be a major distractions for everyone working at tesla all of whom are shareholders pretty wide range of reaction from the sell side today including jpm saying it's a statement. the ceo of a public company, we're going to fold. the possibility into our evaluation. >> look, i think it's entirely possible

i'm actually looking at the quote from musk to tony sacconaghi no excuse for bad manners is what musk tony sacconaghi >> it's the subtle point, and it's funny that we're talking about this kind of stuff, but that is the most significant part, at least in my mind because elon musk is such an essential part of the story and to have some increased confidence that he's on track i think, should reassure investors that this wonderful mission that they're on can be accomplished >> what -- give me a final grade then if you take everything into consideration. the numbers, musk himself and you put teacher munster puts what grade on this >> this is a b-plus, and i think the financials still aren't where they need to be. they still have some work to go there, but i think his commentary and his tenure on the call and what they're saying about continued profitability going forward makes this a very respectable quarter and gives the company a clear path to continuing to move the stock higher >> gene, good stuff. gene munster thank you for joining us there >> did he apologize to tony although you had

another person doing that these days, elon musk.e your thoughts on the significance of the bets that he's making and how they're being received >> you were breaking up a little there. i think you asked what do i think about the impact of the kind of technologies elon musk is promoting i think it is nice to have somebody pushing hard for change, particularly to better technology, more environmentally friendly technologies, and making part of the public debate as we move forward the world has got to continue to make more energy available and make it more environmentally friendly one of the things he's doing is certainly going to help make that happen. >> dean, we actually got a tweet from the president this morning saying that he is urging the sec to study the possibility of stopping quarterly reports for publicly traded companies, limiting them down to six months instead of every quarter there's a big debate going on for a very long time about whether quarterly earnings reports and so-called short sightedness of companies in light of

if musk can succeed in taking tesla private it would be the largest leveraged buyout in history . musk tweeted on tuesday that he was considering taking tesla private at four hundred twenty dollars a share saying that he'd secured funding ideal at that price would represent a price tag of about seventy two billion dollars he didn't say where the funding was coming from shortly after his tweet musk published a letter to tesla employees on the company's blog where he said that going private would be the best path forward and would allow tesla to operate at its best free from distraction and short term thinking going private would also be one way to avoid close scrutiny by the public market because few did publicly with regulators critics short sellers and reporters some analysts believe he would prefer to have less transparency the company is still trying to overcome production challenges which have held up its new model three sedan on which tesla's profitability rests that hasn't stopped musk from announcing major projects like multibillion dollar facilities in china and europe ana

elon musk likes to use twitter. people like to use it to comment on elon musk.r: there is a terminal function that can track all things twitter on the bloomberg. we are tracking twitter sentiment. in the top line, the share price. in blue, the number of tweets that mention tesla. on the bottom i have positive and negative sentiment. tuesday around noon, 1:00 p.m., elon musk started tweeting about the company, that he perhaps secured funding. you saw a big rise in the share price. closing in on that $420 mark wondering he could take it private at. then, a few days later, it started to turn negative -- negative in sentiment, whether funding was really happening and if there could be an sec inquiry. all of that stuff. it is interesting to show the correlation between the share price and twitter. carol: it shows people love to use twitter to talk about musk. thank you. jason: from musk to bezos. the back page looks at the amazon market share. carol: last year amazon captured about 5% of american retail spending. jason: is that a lot? carol: or a little? jason: it de

is see comingic off analysts on an erlang -- on ambienings call musk, musk. is this new?e: in some ways, it is new and in some ways it is not. if you go back in his history, in 2008, it was really a crisis sort of like where we are at. the future was uncertain, and elon arguably was under as much pressure as he is no. he would do the same things. he would give his employees a hard time. he went after the press that was bagging on tesla. i think he was not as famous back then. companies were not as successful, so there was not as much attention on this. this time you have elon on twitter. this was the first time the public has seen all sides of the elon that only his employees and family used to see before you tesla the in this huge success. there is a what more pressure on him. -- a lot more pressure on him. i think it is this public crucible which is strange thing to witness. emily: there's also a level of untruthfulness that he seems to be walking into. not only tweeting something that is untrue, that funding is secure when it is not, dashing and out of his brother's we

like elon musk.d in a blog post announcing his intention is that he didn't think that tesla would be for ever in public markets. he said once it hit a period of sustained steady growth he would consider returning to the bulls and bears are wall street. —— would be forever other public markets. the social media firm snap beat analyst revenue forecasts as it drew in more international and small business advertisers but posted a wider—than—expected quarterly loss. a major redesign isjust one reason it's been struggling to keep up with other social media platforms like facebook, instagram and twitter which has recently seen something of a turnaround. snap has told us that it made a loss of $353 million in the three months to the end ofjune. that was more than expected. another important number is how many daily active users it's main product, snap, attracted. it fell to 188 million during a controversial major resdesign. it's the first time ever snap has seen a decline in numbers. but advertisers aren't

bears would argue that musk here is the master of distraction. he's trying to get investors to look away from some of the financial issues, the production problems. what's your take on that? >> i think tesla by any kind of objective standard has had a pretty good couple of months. there were people who thought it would be very hard for them to hit the 5,000 cars per week number. for the model 3. and now they seem to be hitting it comfortably. if you look at the bloomberg production model, it's above 5,000 right now. so i think that's a good sign. that said, all of these issues that people have been worried about with tesla are still there. and i think that if your core concern is, thanks company that doesn't totally have its stuff together, i'm not sure you're encouraged by the events of the last few days. that said, if you're a believer, if you see this as a big growth opportunity, then going private sounds good and it's kind of the same story we've been hearing from tesla for months and months. which is that within a certain sort of vision, ver

the public markets have been very, very good to elon musk.i thought it was a hoax. connell: you can't dismiss that. deirdre is right to point it out. april 1st, he caught a lot of people with that. silly to do to joke around about bankruptcy, but it's not like he hasn't said strange things or tweeted strange things in the past, right? >> keep in mind, the last earnings call, the expectations were analysts were saying we're hoping to not see any more errant behavior. and that apology was the most valuable apology in the history of business, apologizing and acting like a grown-up, the stock rocketed up 10 or 11%, then up another 7%. the stock is moving on the wrong stuff right now, but again, it's so hard to tell. this is a big story today. i get the sense tomorrow and the next day it's going to be even a bigger story. what is going on here? connell: we don't know. >> is this a hoax? is this behaving errantly or irrationally. when you say funding secure and the stock goes up 7%, there better be a there there. connell: have you seen a public ann

elon musk. we reported in our story that musk was aware of the saudi stake.o it wasn't a surprise to him he knew they were a shareholder. but our reaction to the story was, you know, the stock would probably go up but his reaction to come out with a tweet after not commenting when we went to him for comment, that unleashed a chain of events we did not expect >> the nuance, this was a secondary market transaction, so this was not a fund raised by tesla. they took the stake in the open market they built up that stake also this speaks to this idea that elon musk says he has funding secured for a possible buyout of the company. is there an indication that it could be the saudis or a group of other people out there who will pony up that money to take tesla private? >> it's possible cnbc and the ft both reported it looks like nobody on wall street was aware of this. how do you do a mega lbo without wall street being aware. that's a bit of a question that we'll have to resolve in coming days yes. the saudis have discussed this wi since making the big uber investment

they're up more than 8% following an upbeat conference call with elon musk musk telling investors theompany will be profitable for every quarter going forward. tesla producing 5,000 model 3 sedans per week. for the quarter, tesla lost $3.06 a share but revenues beat coming in at $4 billion last quarter. musk also apologizing for lashing out at some wall street analysts during last quarter's conference call. >> first of all, you know, i wo like t would like to apologize for the prior call there's no excows fuse for bad manners. i have no reasons for it i got no sleep, you know, been working sort of 100, 110-our weeks. so my apologies for not being polite on the prior call >> let's bring in dan mccrum what do you make of mr. musk's semi-mea culpa. >> i think we can call that the billion dollar apology there was a big jump in the after market stock price last night following that some of the main takeaways are what musk said on the call in terms of numbers, we can talk about those in a second, but mixed, and i think are not going to change anyone's minds you either think tesla is the sec

musk trying to get. melissa: omarosa, all the different things, the common denominator, everyone get the hell off of twitter. that might be the solution. >> what are we going to talk about? melissa: we'll find something else. david: believe me, there is plenty. melissa: we got plenty. kristina. bring our panel back in right now. gary, my goodness, i mean elon musk needs to get his stories straight and get the heck off twitter. >> well, jay-z and i were hanging out at elon's place and we heard -- melissa: why didn't you call me? >> i don't know what to tell you. first off in my opinion i think he committed securities violation by making a false statement to the world. and you know, kristina said something very important, conflict of interest. when they did the solarcity deal back then his two cousins ran the company. that was a big gigantic joke. i don't know where this will end up but i will tell you this, the market doesn't like it because it has 60, 70-dollar discount to the price even talked about. we

now there's this move by elon musk arguing that perhaps tesla should be taken private.this move likely to effect, if at all, tesla's supply chain, its relationship with suppliers, efforts to get more profitable in the near term >> i think they're separate from each other, jon. whatever tesla is doing on the operation side of the business, for the most part will be fairly insulated from the board room drama, if you will, and whether or not this is a public or private company. having said that, there is an aspect of the operations of tesla that could impact the decisions of the board or major shareholders in the future, and it comes down to the performance of the company relative to profitability, relative to raising capital, relative to cash burn. let's make some assumptions. assume they do fantastic in the next six months. elon musk would say look, with the operation side of the company is doing great, this is the way we should go forward on the flip side, what happens if they do not perform up to expectations what happens if tesla has to do a bigger capital raise than

if musk can succeed in taking tesla private it would be the largest leverage buyout in history. musk tweeted on tuesday that he was considering taking tesla private at four hundred twenty dollars a share saying that he'd secured funding a deal at that price would represent a price tag of about seventy two billion dollars he didn't say where the funding was coming from shortly after his tweet musk published a letter to tesla employees on the company's blog where he said that going private would be the best path forward and would allow tesla to operate at its best free from distraction and short term thinking going private would also be one way to avoid close scrutiny by the public market musk has feuded publicly with regulators critics short sellers and reporters some analysts believe he would prefer to have less transparency the company is still trying to overcome production challenges which have held up its new model three sedan on which tesla's profitability rests that hasn't stopped musk from announcing major projects like multibillion dollar facilities in china and europe an

musk, he announced late yesterday that he is retained silver lake and

musk in the tesla board go over private plans and musk is being advised by goldman sachs as critics continue to doubt his transparency. how does one of the most high players in youngest the nba balances game on and off the court? we sit down with jalen brunson. first, to the top story, president or one remains affiant in turkey -- the turkish president remains defiant in turkey. he calls it an explicit economic attack. it ins what he had to say his pitch -- say in his speech. [indiscernible] products, we will by customs. signs the u.s. showed no of relenting warning there will be no negotiations about sanctions until it's detained american pastor is released. one of bloomberg daybreak's anchors had this recap from his temple. >> a series of speeches to find a combination around turkey in the last few hours starting with their presidents speech -- president's speech. he believed the u.s. was responsible for a lot of its turmoil and that they are under attack. as a result, he added they would boycott american products, shifting specifically away from iphones to other alternatives like samsung

do they still want elon musk in this job? >> absolutely. even critics would be cautious about tossing him out because the fact is, the company over thedo so much next couple of years to justify its evaluation -- valuation and even in ways elon musk has failed to live up to expectation, it is not to -- easy to see how you bring in regular car executive and do a whole lot better. the fact a lot of these investors see it as a bet on him, not on tesla or even on electric cars. it is this weird box they have in in for the last year. -- been in for the last year. >> has elon musk undermined the trust investors will have in him? multiple untruths here. not only the funding was not concerned, but he didn't spend two hours in spain, but five days from the factory floor. bute could've easily been, there is this pattern of lying, essentially. >> he has never met his production goals and the market and investors forgive him that. you have to look beyond some of these short-term issues and unfortunate issues, and look to the bigger picture of what the c

♪ >> tesla jumps as elon musk plots a different route.e might take the company private at $420 a share. >> shares up 11%, his 61 character tweet boosting his fortune over $1 billion. profitsnwealth bank's come to an end amid higher costs and fallout from a money laundering scandal. >> disappointment from disney. despite the incredible's and the avengers, third quarter earnings went off-script. >> hello from sydney, just after 8:00 a.m. you are watching daybreak australia. two hours away from the opening of the first asian major markets. >> i am ramy inocencio. over the next hour, we will look the action in australia will play into the asia-pacific trading day. it was confident, but whether that is a question of being well placed or misplaced as u.s.-china tensions continue is the question. 0.3%, shy 15 points of a new record high. the nasdaq up similarly here. the big story, especially in the u.s. afternoon trading was tesla. let's talk more about that. tesla, just a fraction of a percent under 11% for the pop. the big news is that it cou

musk has a long history of sending problematic tweets out.er the one about mccabe being a child molester? and the company going bankrupt on april fool's day. you need to take his twitter mechanism away because he can't responsibly use it. >> i would say this is more serious, and say it this way, i don't remember the last reg fd case that was brought. they don't bring the cases a lot because there's a lot of gray area, wiggle room. problem is in the secured financing. that's a material misstatement. that's a problem. connell: if he has an issue, that might be the biggest issue. >> don't you think he would have had funding, he wouldn't have come out with a tweet like that. >> he better. >> fair discloser. >> and he better have documentation. >> most people -- most of the banks around that are getting called right now don't know where it's coming from. >> the saudis are selling canadian assets. >> i saw that. connell: any time the three of you are here, i can talk about insider trading with gasparino, we've had doozies over the years. >> yes. co

could not believe in musk.ent doesn't look because it is -- if it is 420 and market is at 371 this wednesday morning there's a discrepancy there which is the market don't believe it. are you buying it? >> certainly not buying it. saudis did not buy extra stock is out of the treasury and they bought is in open market and did nothing for tesla except boost by putting a bid under it so pony up another 10 or 20 billion and invested close to about 5% three and a half to 5% i think. so no would i buy it absolutely not i was shorted and got taken out and stopped out. by break even i lost money on what i had yesterday so now, i buy it on this absolutely not? >> lost money -- [laughter] wow, headline -- right to take down before we leave tesla 371 down eight bucks. christina do you think elon musk is in trouble as ceo of this company? >> if he sells shares yes. but if he maintains them for now and fact that fec hasn't said anything as of yet they've waited. this is a long, these are hours and hours going on and they hav

coming up, tesla ceo elon musk is reviving old feuds and issuing denials about reports on -- why musk's use of social media could get him in hot water again. check us out on the radio and in the u.s. on sirius xm. this is bloomberg. ♪ emily: elon musk returning to twitter just days after abandoning his short-lived plan to take tesla private, but this time his tweets have nothing to do with the company. yesterday he denied that he cried during "the new york times" interview earlier this month and traded barbs with a follower. bloomberg has been covering this story. the sec has opened inquiries into tesla, namely musk's communication and how he revealed information, is this risky? >> yeah. i don't think this columns in-- calms investors or folks involved in the company. these are not the types of tweets or public statements you are accustomed to getting from a chief executive about if someone broke down in an interview or not. again, these aren't violations of securities laws. nothing was mentioned in that regard, but following the closure or the idea of taking the company private, that e

does this board have control musk?ly ow, i think up people as taken you'd consider more independent. s that there were the one within with elon so i think they've seen this guy, this company would not exist. i think at this point, just stay ut of the press for a while. inflicted these self wounds. >> a large part of your tesla ng was done by ideas. >> the feeling i get from a lot of former esla employees is the feeling of shock. they feel there is a different what is going on now. or them, and in the bigger be in a real ld difficult situation now. and it would be sad to see it crumble at this point. >> if it doesn't work out which most people have told us they think there is 0 chance, what musk?ns to elon he is the right people to run this company? hat argue.re people t no and the biggest problem is blem.manufacturing pro look at apple, tim cook made sure factories were humming along and apple doing and to have the same value. >> an analyst suggest tim cook to work for elon musk. this is suggested. >> thank you for the

us stocks are pretty sharply, tesla up about 11% after elon musk said he wanted to ta ke after elon muskother large us technology firms also on the up included amazon, google and microsoft. in europe, its quiet for economic news, but the geopolitical issues will keep investors on their toes. particularly keeping an eye on that trade war with the united states, china, and indeed other issues going with japan when those talks get under way tomorrow. that really weighing on the minds of investors, ben. joining us is shaun port, chief investment officer at online wealth manager nutmeg. you have been keeping an eye on turkey, all that is going on there. yes, absolutely, the woes continue, currency down 28% this year, and what is significant is now is investors are starting to worry that turkey will need a bailout, so the price of insuring against turkey defaulting on its debt at the highest level since 2009, so investors very worried, particularly about turkish ability to repay bonds. at this stage, that is purely speculation it is, but we haven't had anything out from the central bank or the

and the musk brand and you're buying into this?u're surprised by it, then you haven't been doing your due diligence? >> well, elon is a very dynamic person i agree with the comment that he's one of the greatest entrepreneurs of our time. there's no doubt about it. i've known him since he was in his late 20s and i've watched as he's matured a bit and he was prone to outbursts i wouldn't call them angry outbursts, i would call them passionate outbursts i think what we're seeing today on twitter and in other mediums is really elon being the same one he was when he was in his late 20s but he's got a much broader audience and he's under a lot bigger microscope, which i know he doesn't really care for. >> steve, could another ceo run tesla with elon musk still involved running technology, i guess still tweeting since nobody can stop him? tesla's had a couple of ceos before do you think another ceo could come in and take that leadership role, spotlight that musk himself doesn't seem to want >> i think it would be very hard for someone els

emily: what could that mean for elon musk personally? jail time?t is possible, that is fraudibility, and with comes the possibility of jail time, as well as fines. fines are generally the means that the doj takes more often than jail time, but it is a possibility. emily: that was theresa goody. up, the u k-based fashionace for high-end far-fetched have confirmed plans to go public on the nyse. we will look at the year of tech ipos so far. this is bloomberg. ♪ ♪ face aapple and google brewing revolt over the apps store text. too say they are charging much. netflix is one of the companies trying to bypass the app stores. it could put a dent in apple and google's profits. we are halfway through the year and we have seen a number of tech companies hit the public market. dropbox, spotify, making their debuts. number of tech ipos in the united states will return to levels not seen since the miniboom in 2013 and 2014. how well the rest of the year play out? jackie kelly and alex barinka weighed in. >> technology in particular has been exceedingly active,

where we are at the end of these two weeks is really not much further than what we started because musk may have taken some actions which violated sea. policy securities and exchange commission policies which have sparked a series of investigations into his actions and as a result also left him scrambling to put together this plan and make it look like there was actually more meat than there was on the boat and so at the moment banks are all running around trying to figure out whether they want to even work with him on this because it's such a wild wild idea and proposal and seems seemingly unrealistic and at the same time not wanting to miss out on potentially the largest leveraged buyout in history and only all important question of profitability which in which you mentioned at the top there when do you think it might turn a profit. i mean there's no indication that tesla will turn a profit anytime soon and it's burning cash at a phenomenal rate it can barely produce a couple thousand cars a year it can't keep up with demand from consumers and so there's no sign of profitability in th