Henglong's Board of Directors was held in the large Meeting Room of Shan City's headquarters. All directors, Chen Qiming, Chen Wei and other senior executives were present.
Board of Directors There was no eye-catching controversy, and all procedures were completed in accordance with the established process.
The leaders of each project reported on the progress made in their respective fields in Q4 last year and January this year, as well as the adjustments to the full-year plan after the holiday.
After Board of Directors ends, it will be Spring Festival.
Spring Festival Su Wantang took care of everything in his residence as usual--
Although Zhao Chen stayed here alone and didn't say much,
But the deserted feeling accumulated in previous years was greatly diluted by a very simple New Year's Eve dinner this year, because Zhang Qingxue and Chen Xi also came.
They talked about the past while making glutinous rice balls around the table.
The first batch of samples from Nvidia to Short Selling to Green Energy Technology were put into production.
From the battery life of Tesla to the store expansion of Bubble Mary.
The past year, which spanned tens of thousands of kilometers, seemed appropriate to be compressed into a simple and hot meal.
After the sixth day of the Lunar New Year, they returned to New York again.
But before Zhao Chen could completely re-enter Atlantic Ocean's winter rhythm along the coast, an unexpected and unexpected thunder exploded all over the place in an instant:
United States The Securities and Exchange Commission suddenly launched an attack. They accused Elon Musk of flouting the previous settlement agreement against Information Disclosure.
and asked a federal judge to impose severe sanctions on him--
This direct conflict between the leaders of the core companies and the regulatory agencies immediately destroyed all the previously accumulated safety zones in the market within a few hours.
On February 26, the SEC formally submitted documents to Manhattan Federal Court to formally request a ruling.
The reason is that Elon Musk issued a Twitter announcement on February 19 without prior approval from Tesla claiming that "Tesla will produce about 500,000 cars in 2019."
Afterwards, although he made changes to the digital semantics, he clearly violated the relevant provisions of the settlement agreement reached in October last year:
Material Information Disclosure must undergo mandatory pre-examination by securities lawyers and does not constitute an exempt scope.
As soon as the news came out, this short draft was even still in the process of "notification and verification".
This immediately caused Tesla to drop sharply by about 5% in after-hours trading that day, causing it to rapidly slide below the 290 level.
This was previously held by many parties for more than several trading weeks and was considered by the market to be an effective barrier.
But the barrier was broken, and the stock price rushed away to the 285 area.
It was at this time that those who had been at a high level to the left of 300 were silently hoarding Put Option Short Sellers.
After being patient for more than half a month, their multiple anonymous accounts suddenly started to initiate high-frequency transactions one after another in the dark night Options Chain and as soon as the overnight market quotation refreshed the interface.
Short Sellers decisively accelerated and smashed through the protection disk that many parties had worked hard to accumulate.
In the next few trading days, Short Sellers did not give the bulls any breathing space.
From 285 to 280, from 280 to 275, every time it breaks through an integer barrier, selling orders pile up above the next barrier, pressing down layer by layer like a tide.
On February 27, Tesla closed below 270 US Dollar, and Trading Volume expanded to more than twice the average level of the previous five trading days.
On February 28, 265 US Dollar fell. On March 1, the stock price hit 258 US Dollar, which was less than ten US Dollar away from 250 US Dollar.
Then, near 250 US Dollar, Short Sellers encountered real resistance.
The buyer's defensive list in this position is no longer a sporadic straggler.
Several buy orders exceeding 200,000 shares were arranged in sequence at three prices: 251, 250.5, and 250 US Dollar, blocking the waterfall like three dams.
Short Sellers tried to break through the 250 US Dollar integer mark three times in a row, but was firmly caught by the same batch of buy orders.
The K line on Time-sharing Chart draws a horizontal line above 250 US Dollar.
Every time it was lowered, it bounced back. The amplitude of the bounce became smaller and smaller each time, while Trading Volume became larger and larger each time.
"This is a passive position building by pension funds and index funds, and this price range has entered an acceptable range for their long-term valuation Model."
Chen Xi pulled out the transaction data and enlarged it on the screen, and drew a line with his finger on the line 250 US Dollar.
"But that's not the most critical thing. The most critical thing is that Short Sellers's own ammunition is starting to be tight--
From 285 to 250, a drop of more than 12%, their Put Option floating profit is already very impressive.
However, the margin and additional position costs required to continue to sell down are rising at a non-linear rate.
At the position 250 US Dollar, both parties have encountered physical limits:
The bulls have no more cash to Add Position, and no more ammunition to Short Sellers and are willing to continue to take risks and drop the price."
Zhao Chen leaned on the back of the sofa and looked away from the time-sharing line.
He was silent for a while while holding the tea cup.
"I guess no one can hit it now." He gave his own judgment.
Lin Shicheng rushed over from New York's office the next afternoon and put the latest collateral evaluation report on the coffee table.
Risk Control Department of four investment banks each issued an early warning notice when the stock price of Tesla hit 258 US Dollar.
If the stock price continues to fall, Era Vanguard will need to replenish the margin.
At this time, the clearance of Apple has been completed--
There were 5.7 million shares, and the average price of the reduction gradually increased from around 152 US Dollar initially. The final comprehensive average price of all the shares sold was about 168 US Dollar.
This price has not completely wiped out the floating losses, but it has reduced the losses to less than 40 million US Dollar after tax.
The 8.5 US Dollar that Apple returned were all in Era Vanguard's account, and the emergency fund rose from 115 million to more than 900 million US Dollar.
"The current situation is that both sides of the line 250 US Dollar and Bulls and Bears have lost the ability to continue attacking."
Lin Shicheng Open the report to the second page,
"Short Sellers dropped from 285 to 250, with a cumulative decline of more than 12%. Their Put Option floating profit is already very impressive, but continuing to drop requires new funds and new catalysts.
The SEC investigation Elon Musk card has been played, and if it goes further it will require Tesla Fundamentals to really deteriorate--
So far, Model 3 production capacity is still climbing, and there has been no negative news about the construction progress of the Shanghai factory.
On the bull side, pension funds and index funds have no more incremental funds to push up the stock price after passively opening positions near 250 US Dollar.
Between 250 and 260, it has become a temporary equilibrium range."
"So what are you going to watch next?" Su Wantang refilled the hot tea for him.
"Financial Report. First quarter delivery data and Financial Report are the only external events that may disrupt this equilibrium.
If Tesla's first-quarter deliveries exceed expectations, the short-selling logic of short sellers before the earnings report will be seriously challenged;
If deliveries are lower than expected, bulls won't be able to hold on even with pensions and index funds holding on at 250."
Lin Shicheng Close the report,
"Zhao Zong, there is still more than a month until Tesla's first quarter report.
During this period, my advice is to stay put.
There is no need to add to the existing Pledged Position, and there is no need to rush into the market when the direction is unclear with the existing cash.
Once the quarterly report comes out and the market gives the direction, we will decide what to do next."
Zhao Chen picked up the teacup and took a sip slowly, the richness of Pu'er melted on the tip of the tongue.
Su Wantang took away the coffee cup in front of Lin Shicheng, replaced it with a hot cup and handed it over.
Chen Xi closed the laptop and leaned on the armrest of the sofa, tapping his fingers lightly on his knees. He didn't say anything, but he wasn't relaxed either.
Outside the window, the thin ice on the Hudson River was blown against each other by the wind, making an extremely subtle cracking sound.