Up 26% after-hours almost certainly qualifies as a 'Tsunami of Hurt.'
Some quick math for fun's sake:
If the TechCrunch[1] article is still accurate, Musk owns 28.4% of TSLA. His paper-worth on this ownership this morning was $1.8B. If things stabilize at $70/share, his paper-worth tomorrow morning will be $2.3B.
A notional profit of $500 million in 24 hours isn't too shabby.
> A notional profit of $500 million in 24 hours isn't too shabby.
It's not a 24 hours profit. He didn't buy that stock yesterday, nor could he have without making the price go a lot higher than 70$. You can't judge his profit on the short term.
Some quick math for fun's sake:
If the TechCrunch[1] article is still accurate, Musk owns 28.4% of TSLA. His paper-worth on this ownership this morning was $1.8B. If things stabilize at $70/share, his paper-worth tomorrow morning will be $2.3B.
A notional profit of $500 million in 24 hours isn't too shabby.
[1]http://techcrunch.com/2010/06/28/tesla-ipo-musk-shares/