4 ms·

A pot joke borderline market manipulation. Just amazing. How do people get away with this?

by dudus 8y ago

deleted 8y ago
[deleted]
ebikelaw 8y ago
It’s not “borderline manipulation” it is textbook manipulation.
aiyodev 8y ago
Hiring an army of astroturfers to post on Reddit, Twitter, and Hacker News doesn’t hurt.
Voloskaya 8y ago
Except it's likely not a joke?
- dragontamer 8y ago
  You do realize that 420 is the police code for Marijuana, right? Its a joke. The only alternative is that Elon Musk is manipulating the price of his shares by tweeting private and sensitive information and therefore needs to be fined by the SEC and possibly jailed for stock manipulation. Therefore, its a joke. Because as stupid as Mr. Musk has been this past year, I am sure he's well aware of the illegality of stock manipulation on American markets.
  - chollida1 8y ago
    > You do realize that 420 is the police code for Marijuana, right? It's not... https://mentalfloss.com/article/62749/what-meaning-behind-420 https://mentalfloss.com/article/62749/what-meaning-behind-42... From the article > You may have heard that 420 is police code for possession, or maybe it’s the penal code for marijuana use. Both are false.
  - Voloskaya 8y ago
    You do realize that 420 is also part of the set of real numbers before being an alias for marijuana? 420 is also somewhere in the range of 15-20% higher than the current price, making it a realistic offering price. Also: * https://twitter.com/elonmusk/status/1026885883482365953 https://twitter.com/elonmusk/status/1026885883482365953 * https://twitter.com/elonmusk/status/1026890900885184514 https://twitter.com/elonmusk/status/1026890900885184514 But thanks for your valuable input.
    - dragontamer 8y ago
      Since when is Twitter a public disclosure as per the law then? Normally, announcements for stock buybacks, taking a stock private, etc. etc. need to be filed with the SEC months in advanced and announced to the general community.
      - Voloskaya 8y ago
        The legality of announcing it on Twitter has pretty much nothing to do with wether it is a joke or not though.
        dragontamer 8y ago
        I didn't take Mr. Musk to be a man who violated the law. That's all. Apparently, I'm mistaken. Its a minor violation, but still not in the spirit of how major stock market announcements are supposed to happen.
      - adventured 8y ago
        As the CEO of Tesla, his Twitter account can act as a legal announcement platform for the company, just as the Tesla site can. The SEC issued that guidance five years ago. The requirement to comply with Regulation FD is that investors should be able to have some reasonable confidence that the source in question - the twitter account - is a legitimate source for the company. The two Twitter accounts that would clearly apply to would be @tesla and @elonmusk.
  - mephitix 8y ago
    It's not a joke. It's clear based on his follow-up comments on Twitter that he's been serious about this for a while. If there is an investigation into stock manipulation the fact that there's funding secured would factor heavily against it.
21 8y ago
> The Securities and Exchange Commission today issued a report that makes clear that companies can use social media outlets like Facebook and Twitter to announce key information in compliance with Regulation Fair Disclosure (Regulation FD) so long as investors have been alerted about which social media will be used to disseminate such information. https://www.sec.gov/news/press-release/2013-2013-51htm https://www.sec.gov/news/press-release/2013-2013-51htm

A pot joke borderline market manipulation. Just amazing. How do people get away with this?

by dudus 8y ago

A pot joke borderline market manipulation. Just amazing. How do people get away with this?

deleted 8y ago

[deleted]

ebikelaw 8y ago

It’s not “borderline manipulation” it is textbook manipulation.

aiyodev 8y ago

Hiring an army of astroturfers to post on Reddit, Twitter, and Hacker News doesn’t hurt.

Voloskaya 8y ago

Except it's likely not a joke?

dragontamer 8y ago
You do realize that 420 is the police code for Marijuana, right? Its a joke. The only alternative is that Elon Musk is manipulating the price of his shares by tweeting private and sensitive information and therefore needs to be fined by the SEC and possibly jailed for stock manipulation. Therefore, its a joke. Because as stupid as Mr. Musk has been this past year, I am sure he's well aware of the illegality of stock manipulation on American markets.
- chollida1 8y ago
  > You do realize that 420 is the police code for Marijuana, right? It's not... https://mentalfloss.com/article/62749/what-meaning-behind-420 https://mentalfloss.com/article/62749/what-meaning-behind-42... From the article > You may have heard that 420 is police code for possession, or maybe it’s the penal code for marijuana use. Both are false.
- Voloskaya 8y ago
  You do realize that 420 is also part of the set of real numbers before being an alias for marijuana? 420 is also somewhere in the range of 15-20% higher than the current price, making it a realistic offering price. Also: * https://twitter.com/elonmusk/status/1026885883482365953 https://twitter.com/elonmusk/status/1026885883482365953 * https://twitter.com/elonmusk/status/1026890900885184514 https://twitter.com/elonmusk/status/1026890900885184514 But thanks for your valuable input.
  - dragontamer 8y ago
    Since when is Twitter a public disclosure as per the law then? Normally, announcements for stock buybacks, taking a stock private, etc. etc. need to be filed with the SEC months in advanced and announced to the general community.
    - Voloskaya 8y ago
      The legality of announcing it on Twitter has pretty much nothing to do with wether it is a joke or not though.
      - dragontamer 8y ago
        I didn't take Mr. Musk to be a man who violated the law. That's all. Apparently, I'm mistaken. Its a minor violation, but still not in the spirit of how major stock market announcements are supposed to happen.
    - adventured 8y ago
      As the CEO of Tesla, his Twitter account can act as a legal announcement platform for the company, just as the Tesla site can. The SEC issued that guidance five years ago. The requirement to comply with Regulation FD is that investors should be able to have some reasonable confidence that the source in question - the twitter account - is a legitimate source for the company. The two Twitter accounts that would clearly apply to would be @tesla and @elonmusk.
- mephitix 8y ago
  It's not a joke. It's clear based on his follow-up comments on Twitter that he's been serious about this for a while. If there is an investigation into stock manipulation the fact that there's funding secured would factor heavily against it.

21 8y ago

> The Securities and Exchange Commission today issued a report that makes clear that companies can use social media outlets like Facebook and Twitter to announce key information in compliance with Regulation Fair Disclosure (Regulation FD) so long as investors have been alerted about which social media will be used to disseminate such information. https://www.sec.gov/news/press-release/2013-2013-51htm https://www.sec.gov/news/press-release/2013-2013-51htm