Chen Xi checked the last column of transaction data and closed the computer.
"Zhao Zong, we bought 4 million shares today, with an average price of 181.5 US Dollar, and the total position has reached 20.6 million shares.
Do you want to add some more pledges?
We still have a lot of cash on hand that we can use. If we can continue to push Liquidation Threshold down, it will be even harder for Short Sellers to break through."
"No need to use cash, use shares to supplement the pledge. Take the Tesla stock we bought today and set aside part of it to make up for it."
Zhao Chen almost did not hesitate,
"Let the brokers see that we still have cards in hand, and they are cards that can be played at any time.
Aren't they always guessing how much ammunition we have left? Let them see for themselves."
Chen Xi quickly went through the supplementary pledge numbers.
After the last replenishment of 125 million US Dollar in cash, the pledged financing principal has dropped to approximately 2.575 billion US Dollar.
The early warning market value is approximately 3.219 billion US Dollar, and the early warning stock price is approximately 194 US Dollar; the closing market value is approximately 2.961 billion US Dollar, and the closing stock price is approximately 178 US Dollar.
She proposed to allocate 3.4 million shares from the newly added 4 million shares. Based on the market price of about $188 at the time of the additional pledge, the market value of this part of the stock was about $639 million.
These 3.4 million shares were directly additionally guaranteed, the financing principal remained unchanged, and the total number of pledged shares increased from 16.6 million shares to 20 million shares.
The closing market value is 2.961 billion US Dollar divided by 20 million shares, and the new closing stock price will be revised down to around 148 US Dollar.
The early warning line dropped sharply downward simultaneously from 194 US Dollar.
Chen Xi showed the results on the calculator to Zhao Chen and added that these are only preliminary theoretical values.
The actual revised warning line and Liquidation Threshold will depend on how the brokerage risk control re-evaluates the terms.
But no matter what, if Short Sellers wants to smash Tesla through the new line of defense, the ammunition and price it needs to pay will be much greater than before.
Zhao Chen nodded.
"That's enough. Deposit 3.4 million shares.
Aunt Zhang and Lin Shicheng started immediately, and it was time to show Short Sellers our muscles.
By the way, it can also inject confidence into the bulls in the market."
He looked at Zhang Qingxue.
"13D declares normally, no need to advance, no need to press the deadline - just follow the normal procedures.
After the additional pledge, the market will naturally see that Era Vanguard's shareholding in Tesla has exceeded 11%.
Let Short Sellers calculate how many bullets we still have."
The news that Era Vanguard used 3.4 million shares of Tesla to replenish the pledge spread throughout Wall Street in less than half an hour.
The alert popped up first on Bloomberg Terminal, with a simple title--
"Tesla The source of the mysterious Buying Pressure was confirmed in the market, Era Vanguard supplemented the pledge with new holdings, and Liquidation Threshold was revised sharply".
Immediately afterwards, Reuters's follow-up report disclosed in detail the details of the changes in the pledge terms, and the transaction data of NASDAQ was also re-disassembled by multiple analysis institutions.
Bulls rush to tell each other.
Tesla retail investors in trading forums and encryption groups repeatedly forwarded the screenshot of Time-sharing Chart that pulled back from 178.48 to 188, with only a few words in the caption--
"Era Vanguard didn't run away".
Fund managers of pension funds and index funds held an emergency internal strategy meeting after the market closed to re-evaluate the safety margin of Tesla at the current price.
Those bulls who were trapped above 200 US Dollar saw for the first time a rebound signal that was not an illusion after weeks of continuous decline.
Short Sellers fell into panic.
The cause of the panic is not today's closing price --
188 US Dollar still has huge room for profit from their Short Selling cost line.
They dropped the stock price from 300 to 178, and the floating profit was extremely huge. As long as they can close the position, the profit is real.
But what is alarming is that the opponent Era Vanguard actually has the ability to take over with real gold Silver near 178 US Dollar.
After receiving the order, 3.4 million shares can be immediately taken out to replenish the pledge.
All previous calculations - how much Apple liquidated positions, how much was spent to replenish positions, and how much cash is left on the books - are all based on the same set of logic:
Era Vanguard's cash has dried up.
Today's purchase order for 4 million shares broke a big hole in this logic.
By the fireplace of the Explorers Club, White-Haired Old Man, who was still preparing for the celebration banquet in the afternoon, pushed the Whisky cup away.
Bloomberg Terminal in front of you shows Tesla all-day Trading Volume and seat analysis report.
The people sitting across from him didn't touch their glasses anymore.
What they are thinking about at the moment is not how much they lost today - Short Sellers did not lose today, and 188 is still much lower than their average price of Short Selling.
They're thinking about tomorrow, the day after tomorrow, and where all the new ammunition they can't predict will come from.
"He took the order at 178, then turned around and pledged the stock to the brokerage."
White-Haired Old Man threw the printed copy of the transaction details on the coffee table, and there was a trace of sarcasm on the corner of his mouth, not knowing whether it was for himself or others,
"This is not defense, this is telling us - he still has cards.
He not only wants to hold Liquidation Line, but also continues to increase his holdings at this position. If we continue to smash, he will continue to pick up.
After taking it, pledge it, and after staking it, buy it again - once this cycle starts, our Short Selling cost will rise exponentially."
After saying this, no one answered.
Analysts and other trading executives all translated it into actionable trading instructions in their minds bit by bit, and then realized that there was no simple solution to this instruction.
There was silence in the room for a long time. Everyone realized that counting all the ammunition of Era Vanguard was wishful thinking.
Now the opponent not only has ammunition, but the structure of the ammunition can recycle itself.
The short partner spoke first:
"If we continue to smash, he can take it, and after he has taken it, he can pledge it again, and after he has pledged it, he can buy it again.
If we don't smash it, the stock price will slowly recover from below 200, and our time cost will get higher day by day.
If we want to close the position - there is still profit from closing the position now, but the closing itself is Buying Pressure, which is equivalent to helping him push up the stock price.
We're stuck in this zone."
He paused and glanced at everyone,
"The previous account book has been turned over - the data of Citigroup, Morgan Stanley, Credit Suisse and the 300 million pledged to cover the position are no longer important.
He now has new chips in his hand, and his fund channel is not the internal circulation of Wall Street. We have been investigating for so long but we have not been able to find out the exact source of this new fund."
"These are no longer important," White-Haired Old Man pointed out coldly,
"Even if he was robbed, it can't change our passivity.
However, the source of the funds is unknown, so the report must be reported and someone should be reported to the SEC immediately."
Someone immediately responded and went out to make a call to arrange the report.
The meeting continues.