“When Elon Musk committed blatant market manipulation (‘funding secured’) for the sole purpose of scratching his id, he waved his middle finger in the face of our system,” Galloway writes. “The excuses we make for ‘innovators’ are unhealthy and un-American… But the U.S., more than a nation innovators, is a nation of laws. We benefit, every day, from the notion ‘justice is blind.’ The Edison of our generation (and he is a genius) stuck his chin out and dared us to hit him. The SEC found its voice and complied.”
“Our Edison will be, at a minimum, banned from being officer or director of a public company. Narcissism, a weak board, lack of impulse control, idolatry of innovators, and the SEC finding its voice will thrust Tesla into the arms of another, as the stock will decline (further), and the firm, which has real assets, will be acquired,” Galloway writes. “Apple or Google are the most likely suitors, as the car is a platform of sorts and one can see Apple employing their high-margin luxury brand, vertical distribution, and artisan strategy on Tesla.”
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MacDailyNews Take: If it’s one or the other, it’s the innovator or the copier thief; good or evil; Apple or Alphabet Inc. Good luck, Tesla, because Apple has shown very little appetite for massive acquisitions.