12-11-2021, 05:09 PM
(12-03-2021, 05:30 PM)TinStar Wrote: Ok I'm just a simpleton but is Elon Musk legally manipulating the stock market using social media/his extreme wealth?
It seems that he can use his celebrity to drive stock prices up/down and use his ability to buy/sell massive amounts to also drive prices up/down. I felt with dogecoin that he absolutely used his celebrity to boost the value.
I also feel that he may be doing this with tesla as well(granted... I'm an idiot...). But him selling off massive amounts of tesla stock, making decisions for the company causing the stock prices to fall, and then repurchasing his stock seems very manipulative(I don't think he has purchased any since he sold recently, but I'm waiting for it to happen).
I mean he obviously was manipulating the crypto market with Dogecoin (because Crypto is a fraud). I made some quick in and out cash but there are definitely ethical and possibly legal issues.
But hey, I drank the Koolaid and own a Tesla so who am I to argue?