Comment by breppp

The entire idea is to buy an undervalued platform using insider information, if the stock price plunges after he committed to a price then it's no longer undervalued. This has happened between his bid and termination announcements.

I also roughly remember he had his Tesla holdings as collateral creating some liquidity crisis for him.

This elaborate explanation does not mean it isn't wrong and the original theory of idiot-with-money does not hold