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Could the SEC use as evidence the fact that the price went up post-tweet, and down after Tesla recanted? That is arguably objective evidence of reasonable inves
by likpok 8y ago
Could the SEC use as evidence the fact that the price went up post-tweet, and down after Tesla recanted? That is arguably objective evidence of reasonable investors taking his tweet as a material fact to their trading strategies (i.e. by buying stock).
- rayiner 8y agoYes. Its not dispositive, because “reasonable” is a legal abstraction (so it admits the possibility that there are unreasonable investors who don’t get the joke), but it’s evidence.