I'm not trying to defend anything... But why is changing a stance on something 'clear evidence of manipulation'? Is there evidence he traded doge before/after those tweets and the SNL appearance?
I think it's because no other properties of it have changed in the meantime, so one might think it's either arbitrary and irrational or manipulation and rational.
Other properties have changed tho[0]. All these markets are like a river, constantly changing. Elon is only one stone.
[0] some businesses have started accepting Doge, many new FOMO participants among other things
Because he’s making his stance public with the knowledge and expectation that his followers will act on it and, in acting on it, will change the price.
Because Tesla or him are in fact not selling their Bitcoin assets. He might as well be buying bitcoin or another crypto asset now.
Or clear evidence that he is moderating the rhetoric, after seeing people literally YOLO their life savings into a joke coin.
I suppose you can call it moderation; it lost 1/3 of its worth (along with 1/3 of the life savings of those people.)
In comedy, it is common to take multiple perspectives for the sake of a joke.
So simultaneously a joke and market manipulation?
He paid $20M for his $420 TSLA joke. I'd call that manipulation... Doge is just memes though.
He bought $20M in Tesla stock that went up 8x (or something) and that 420$ thing (not a joke, that was a very serious thing) so it actually made him a lot of money.
...but not illegal as best as I can tell
People are allowed to change their mind on if they like the coin, right?
Yes. But it is smart to look at the history of the speaker.
Being smart doesn't mean anything to the wider market if you aren't loud enough.
No but it does matter to the readers understanding :)