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https://www.forbes.com/sites/antoniopequenoiv/2024/05/31/tesla-investor-accuses-elon-musk-of-75-billion-of-insider-trades/ https://www.forbes.com/sites/antoniop
by nurettin 10mo ago
https://www.forbes.com/sites/antoniopequenoiv/2024/05/31/tesla-investor-accuses-elon-musk-of-75-billion-of-insider-trades/ https://www.forbes.com/sites/antoniopequenoiv/2024/05/31/tes...
> Musk sold 19.5 million Tesla shares worth about $3.95 billion in November 2022
I mean sure it is his to sell, but how is that different?
- spullara 10mo agoThat was to buy Twitter.
- pastel8739 10mo agoDoes using the money from the dump to do something else make it no longer a dump?
- eru 10mo agoI'm fairly sure this was not a pump-and-dump. My evidence is that in America people sue for these things left and right all the time. It's a popular pastime for lawyers to get a class action lawsuit for securities fraud together. But as far as I can tell, Musk / Tesla weren't convicted of these things in conjunction with the sale of Tesla stock to buy Twitter.
- jacquesm 10mo agoThere is a meme for this kind of move. It's pump and dump because it isn't worth what the underlying assets are worth and because there is a sale. Whether people sue for it and whether or not they were convicted is immaterial.
- ekianjo 10mo agoYou know that's the timeframe of the Twitter acquisition right?
- _heimdall 10mo agoSo is your issue here that a CEO makes public claims if his company that may be predictions or aspirations for the future, then sells shares he owns in the company to buy another company?
- nurettin 10mo agoExactly my issue. The same way scams are "predictions and future aspirations".
- _heimdall 10mo agoFair enough. I may just be cynical enough to assume CEOs are always talking out of their ass with regards to the future, but I do understand if people would rather things not work this way.