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Comment by hetoh | Hacker News Reader

Elon is just a troll who happens to be richest man on earth. He is just trolling SEC. Bid price 54.20 is a joke and people do not yet realize and take him seriously, anyone notice 420 ? Everyone remember he wanted to take Tesla private for 420 and funding secured.. he is just doing classic pump and dump.. he did with Tesla and took out all short sellers.. Now he's doing the same for Twitter, he will make money and sell twitter stocks. SEC is a joke.. they should come hard down on him.

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> SEC is a joke.. they should come hard down on him.

Honest question, what is the illegality or infraction he is committing? He's filing the proper paperwork, presumably he will follow through if the offer is accepted. What can the SEC actually do?

Only reason he filed paperwork this time is last time he got fined. So his calculation was lets do paperwork and avoid fine.. Does anyone really think 54.20 is a serious offer or its just in his regular pattern of 420 behavior? I can almost guarantee it will never go through even he knows it. Thats why its his best and final offer.

Do you really think Twitter is sudden interest to him away from Tesla/SpaceX or Hyperloop? last time he was in "Web" was PayPal and thats ages ago.. it Never has interested him probably very boring. He was never into social. he's just thinking this as a quick way to make 15-20% return in few months and have fun. He got bored of pumping Dogecoin, now he's on twitter trying to make money, even though he does not need it. its just fun for him to send people in loop and trigger bunch of folks.

To add to all that Chairman of Twitter is Salesforce’s CEO, which recently ran an anti-SpaceX/Elon superbowl ad. So this drama has multiple layers.

None of that has anything to do with my question, though. It doesn't matter what his motivations are. The question is, what law or regulation has he violated? On what basis can the SEC go after him, specifically?

Sec requires if you buy more than 5% of company you should disclose for a reason. He kept buying till 9% and then disclosed it . He did not buy all in one day .. it was months long project .. so he kept prices low and the. After announce you see the bump.. so yeah there is your answer and I’m sure there might be others rules being bend .. by our lord our savior Elon musk

And you might wonder why he did not join board and what background check he failed ? Surprise .. in his SEC filing he said he is going to be a passive investor and then suddenly tried joining the board and then when was not allowed he tried to just waste news cycles by trying to buy the whole company . I understand lot of People are Elon fan boys. Which I don’t .. I prefer people who are good not horrible .. yeah great job with Tesla or space x .. but give me a break on him making Twitter free speech bastion .. if he had so much interest maybe he should go buy his buddies truth social and make that amazing .

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