I have NO position in TSLA; however I was trading it up until this week. Was trying some short option plays to no avail. Big mouth EM and his oversized ego decides to take a twitter poll to sell billions of dollars in stock. I am sure this impacted a lot of people. So, should we allow that kind of market impacting b.s. from CEOs of companies? Isn't there -something- wrong with that; or does the USA no longer have any rules, codes or ethics regarding what seems to be market manipulation (or has that effect) by insiders using twitter or other social media?! Be nice to get some intelligent, insightful replies. Those w/ IQs <110 need not reply (this would likely include most "bull market for brains" millennials- LOL) p.s. if this is the incorrect Forum please re-locate. TY
Yes .... I do believe the SEC should do something about Musk the next time his tweats affect TSLA or a Cryptocurrency.
I do not remember the exact rules, but don't insiders have to report their intent to buy/sell their stock a certain number of days before they do it? That is public knowledge through the SEC form filing they must make. (I don't know the form number). So isn't a tweet about it just an addendum to that form?
No such thing of freedom of speech if what he said affects the stocks where he has material financial interest..... Even some grade school kids know of that.
Im not a securities law attorney nor do I play one on TV. That being said, Elon Musk tweeted a poll question with most of the people answering “yes”. Should I sell blah blah blah? Is it right, No. But it’s freedom of speech. Maybe I’m reading the wrong tweet.
No freedom of speech concerning any comments on the stock that he owns. Period. This is why Elon was fined by SEC. SEC should have fined him much more, and at higher amount. Then he will learn how to keep his mouth shut.
Other than those large banks that with investment and trading businesses, the regional banks have not had very good earnings. Their P/E ration is not attractive....
Not true. Not true at all. So long as no fraud he can say what he wants. This is America. We're free until we aren't.