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Elon Musk tells advertisers: ‘Go fuck yourself’ - The Verge
(www.theverge.com)
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this post was submitted on 30 Nov 2023
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He's the primary owner of the private shares. The shares are not publicly traded. None of what you said makes any sense.
There are no twitter stocks, you can't buy or sell them, and therefore can't short them, since you need to borrow them to do just that. This could work if Elon had some percent of the company, so other people's money would enter the equation, but right now it is not possible.
I'm a little confused by this comment, Twitter isn't a publicly traded stock anymore?
Unless you mean he made deals with them before he BOUGHT twitter (for well beyond market value), meaning the hedgies would be taking a loss....?f
edit: that doesn't preclude the possibility he's tanking the company so he can declare bankruptcy to get out of his loans, but that doesn't involve conspiring with hedge funds, it's just a different kind of financial fraud
Your edit has been my pet theory for some time. That and he gets to ruin a platform that leftists have used to organize around the world.
That just tells me that he doesnt understand how leftists work. We change platforms on the reg.
Yea, I mean I think it's probably his best play. But I don't really grant him to be so principled as to have originally bought twitter for that purpose: I think he's a dumbass who got called on a shitpost, and now he has to weasel his way out.
Doesn't mean he's not also a reactionary cunt, but I personally think that plays second fiddle to this situation.
Making deals with hedge funds to ruin a brand they have shorted seems illegal.
Is there any legislation that prohibits this in the United States?
Every insider trading law in existentiality.
Those only apply to poor people
Do you have evidence of him committing insider trading?
Well he's spent the last decade committing market manipulation, not that far of a jump.
So "no, there is none." Would have sufficed.
Always a great sign if posts asking for evidence are getting downvoted.
Because its kind of pointless to the point t of sealioning.
Like take for example when the leader of Wagner group died in a plane crash and it was pretty obvious putin had him killed. Would asking a random lemmy user to provide proof of that claim add anything to thr discussion?
In this case and the Wagner example, if the point isn't obvious it's reasonable to ask for some kind of proof to get a better understanding of the point. But I do agree that there's no reason to ask for proof in this case, because the conspiracy theory is already so nonsensical that any proof would just compound the nonsense.
People simply need to stop putting him on a pedestal and accept that he isn't some genius businessman whose inner machinations are an enigma. He made a stupid deal and bought a company he doesn't know how to run so he's running it into the ground, that's it. No grand conspiracy required. You need a grand conspiracy only if you can't accept that Musk is just an ordinary man whose biggest contribution to his success is having wealthy parents.
Lol, I'm no fan of Elon either.
You clearly imply insider trading going on. The fact that it might not be (I'm not sure if the law) musk being guilty of insider trading, but just commiting fraud so others could do so, is being pedantic and silly.
Yeah I find I hard to believe that this man that has constantly done illegal shit to maniuplate the stock market would go as far as to illegally manipulate the stock market.
He only bought Twitter because he was forced to or admit he was trying to manipulate the stock again.
He bought a much higher stake, used Twitter to telegraph a higher price than it was worth. Then he didn't use his own money when he was finally forced to purchase Twitter at the higher price he tweeted. The money he used to purchase Twitter came from countries who have stated they didn't want Twitter to be around because it hurt their public perception when they were caught doing shady things.
His Twitter gift started the same way the SEC sued him for market manipulation for his Tesla manipulation years before. Publishing his $420 price point then selling stock when the price goes beyond his tweeted price point.
He was never savy enough to use shorting like the Hedge funds do, but his reach among the idiot masses to cause jumps in price to artificially male a bigger profit.
So you're just talking out of your ass?