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I am sure there will be some arguments along that line or similar, so we will see, but the situation would be entirely different had the stock been at say, $220
by mehrdada 7y ago
I am sure there will be some arguments along that line or similar, so we will see, but the situation would be entirely different had the stock been at say, $220 today.
- FireBeyond 7y agoThe stock price today is immaterial, as it relies on information that no investor had at that point in time. Hindsight is always 20/20.
- mehrdada 7y agoIt is a civil lawsuit and it sure is material as far as quantifying damages is concerned. But why speculate when we can just wait and see the outcome. Again, I agree that your post above might serve as an avenue to claim some damages that a judge would agree to, but to say stock price today is immaterial is just plain wrong. If the stock price had dropped to $100 today, it would have been likely that all shareholders could make a valid argument to a claim, but now at the very least one has to demonstrate that they were a shareholder at the time of the tweet, and they have taken a certain action that hurt them based on that tweet.