Alterate headline – Tesla erases ~10 days worth of gains, still up 30% this month and 150% this year.
Alternate headline: TSLA; easy come, easy go.
I thought it would be more spectacular but that number is basically clickbait, it didn't even break $1000 so it's just getting a correction after a strong upward trend.
Although if this ends up undoing the entire explosive upward trend then it would probably end up lower than $1000 for at least a while.
We’ll what does anyone expect when he biggest shareholder says they’re gonna sell their shares… could’ve been worse. Might well be if it comes to pass.
Probably unpopular opinion : but how are things like these that Musk does w.r.t publicly held shares legal?
It drives money into the system, popularizes the markets, and also because it's probably hard to make a case in the current state of things. This is America, big corps get preference and grace. I'm not saying it's right, I'm just saying that's my assumption of how it is.
Strictly speaking, it’s not. He’s violated securities laws multiple times but seems to feel he’s immune to prosecution. Consider the recent “financing secured” tweet.[1]
He has violated them once and got punished for that. And then there are 100s of claims by uneducated people that he 'constantly' violates the law.
No-one ever proved he didn’t. Look at the share price now - it would have been a damn good deal!
The tweet doesn’t have material information about the company. Also, holding a poll about selling shares would probably be upheld as protected speech under the first amendment.
Musk just gave us a small demo of the impact of taxing unrealized capital gains.
Nah, just plain old market manipulation.
I'm confused. If this is a small demo, isn't it a rousing success? A shitton of Tesla stock is leaving Musk's hands and going to other people. Yay!