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Ok I'm just a simpleton but is Elon Musk legally manipulating the stock market using social media/his extreme wealth?
It seems that he can use his celebrity to drive stock prices up/down and use his ability to buy/sell massive amounts to also drive prices up/down. I felt with dogecoin that he absolutely used his celebrity to boost the value.
I also feel that he may be doing this with tesla as well(granted... I'm an idiot...). But him selling off massive amounts of tesla stock, making decisions for the company causing the stock prices to fall, and then repurchasing his stock seems very manipulative(I don't think he has purchased any since he sold recently, but I'm waiting for it to happen).
TinStar
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I recall Warren Buffett one time commenting something like how he had to watch what he said because one word from him could send a stock rising or falling.
It's probably way less nefarious than what Congress does, which is buy and sell stock (directly or indirectly) while working on legislation that will make things easier or harder for that company.
But I also think that these days the stock market represents millions of people shovelling cash blindly into it for their retirement plans and so the influence of celebrities and even company success has less and less to do with the stock market.
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I don't think Elon is being "nefarious" because he isn't doing anything illegal and he is doing everything really right out in the open. I would say that what politicians do is absolutely nefarious when you can make policy that directly impacts stock prices and use that to your advantage.
I just think they are going to figure out a way to make it to where a celeb can't impact the market. Like I said with dogecoin, who knows how much Elon actually owns but he definitely impacted it's value. And he can buy enough that fractions of a percent mean real money.
Elon has 63 million followers on twitter alone. That's a hell of a lot of influence. I mean, the dude smoked weed on Joe Rogan and Tesla stock dropped 9%.
TinStar
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Elon Musk has been driving his companies stock prices up or down with comments for years. The guy is incapable of shutting his mouth or not commenting on social media. It is part and parcel of what makes him famous/infamous.
A-LA-BA-MA MAN!
HE'S QUICK, HE'S STRONG, HE'S ACTIVE!
You can take Alabama Man to the bowling alley, where he drinks heavily and chews tobacco!
HE CAN BOWL, HE CAN DRINK, HE CAN DRINK SOME MORE, ALA-BA-MA-MAN!
When wife asks him where he's been, just use the action button and Alabama Man busts her lip open!
"Shut up, Bitch!"
"Wow!"
BEATS HIS WIFE AND SLEEPS IT OFF, A-LA-BA-MA MAN!
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(12-04-2021, 11:20 PM)Zouji Wrote: Elon Musk has been driving his companies stock prices up or down with comments for years. The guy is incapable of shutting his mouth or not commenting on social media. It is part and parcel of what makes him famous/infamous.
Do you think it's all just random chance, or do you think he does it with a purpose?
My take is that he has a plan and that is part of his plan. I don't think he's a bad person, I actually think he's a really good person when it comes to wanting what's best for people. But I do think he's purposefully manipulating the stock market using his celebrity, which I think is problematic(granted, maybe the stock market is the problem? )
TinStar
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(12-05-2021, 10:59 AM)TinStar Wrote: (12-04-2021, 11:20 PM)Zouji Wrote: Elon Musk has been driving his companies stock prices up or down with comments for years. The guy is incapable of shutting his mouth or not commenting on social media. It is part and parcel of what makes him famous/infamous.
Do you think it's all just random chance, or do you think he does it with a purpose?
My take is that he has a plan and that is part of his plan. I don't think he's a bad person, I actually think he's a really good person when it comes to wanting what's best for people. But I do think he's purposefully manipulating the stock market using his celebrity, which I think is problematic(granted, maybe the stock market is the problem? )
Considering there are business people that go onto CNBC or Bloomberg and do similar things, I think he just plays the same game but on twitter. This was pretty obvious during the entire GameStop/WallStreetbets issue.
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I thought the reason he sold off a bunch of stock was for tax purposes? I haven't really followed it that closely, so maybe that was just an excuse.
I don't own kid gloves.
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(12-06-2021, 10:10 AM)Crice Wrote: Buy Crypto! :-)
I'm too stupid or not interested enough to learn. I don't invest anything outside of my 401k. I want to, I just don't have time to figure it out...
TinStar
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Start small and learn as you go. I suggest www.crypto.com app or the coinbase app.
Read up on Blockchains and NFTs. That is the future.
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Anyone who puts more than play money(meaning, money I can set on fire and has no impact on my life) in crypto is just asking for trouble.
I don't own kid gloves.
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You just need to play the dips. Meaning when it drops you buy more. When it goes up sell some. Get out what you put into it and the rest is play money. I made back my initial investment the first week. I am up 400%.
CRO and MANA are my big picks. MANA Metaverse is going to be huge. CRO is crypto.com they just signed a 700mill 20 year deal for the LA stadium. I bought at .18 its .58 today. Crypto.com burns tokens to limit the amount of outstanding tokens which is a great thing to do to keep the value up.
But ya it's a gamble, you never know what will happen. I try to do my research and read the market trends before buying anything. I hate losing money!
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It's a 3 trillion dollar market right now, that kind of money doesn't just disappear, i'm pretty confident it's here to stay.
Skelas
Burnt to a crisp.
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It is a 3 trillion dollar "digital tulip" market.
A-LA-BA-MA MAN!
HE'S QUICK, HE'S STRONG, HE'S ACTIVE!
You can take Alabama Man to the bowling alley, where he drinks heavily and chews tobacco!
HE CAN BOWL, HE CAN DRINK, HE CAN DRINK SOME MORE, ALA-BA-MA-MAN!
When wife asks him where he's been, just use the action button and Alabama Man busts her lip open!
"Shut up, Bitch!"
"Wow!"
BEATS HIS WIFE AND SLEEPS IT OFF, A-LA-BA-MA MAN!
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(12-10-2021, 09:55 AM)Crice Wrote: You just need to play the dips. Meaning when it drops you buy more. When it goes up sell some. Get out what you put into it and the rest is play money. I made back my initial investment the first week. I am up 400%. Yea, not my game. I lose $5 in a day and I'm like FUCK! I can't imagine losing(even if it's just on paper), the amount of money you can gain/lose in 1 day just because someone sends out a tweet.
I'm not a fan of trying to time the market in any aspect. If I can't put my money in, forget about it for at least 6-12 months, then it's not something I'm interested in. I buy on a consistent pattern(monthly) and basically never sell anything unless it's underperformed over a period of time and I can replace it with something that has a better consistent history.
I don't own kid gloves.
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Just think of all the millionaires who've been created just from digital currency and tweets! Don't worry we'll all be millionaires soon! Don't worry about inflation... /s
Crypto is likely to be our next global financial crisis.
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You all sound like old men screaming at kids to get off your lawn.
Skelas
Burnt to a crisp.
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Old people with lawns screaming at people who lost their lawns on crypto
I don't own kid gloves.
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12-10-2021, 07:32 PM
(This post was last modified: 12-10-2021, 07:39 PM by Dharus.)
(12-10-2021, 04:11 PM)Skelas Wrote: You all sound like old men screaming at kids to get off your lawn.
Lawns are real places. I guess the Purge has also yelled at kids to get off their pixel yards as well.
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Vlad has told a great many people to get off his pixel lawn "or else".
A-LA-BA-MA MAN!
HE'S QUICK, HE'S STRONG, HE'S ACTIVE!
You can take Alabama Man to the bowling alley, where he drinks heavily and chews tobacco!
HE CAN BOWL, HE CAN DRINK, HE CAN DRINK SOME MORE, ALA-BA-MA-MAN!
When wife asks him where he's been, just use the action button and Alabama Man busts her lip open!
"Shut up, Bitch!"
"Wow!"
BEATS HIS WIFE AND SLEEPS IT OFF, A-LA-BA-MA MAN!
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(12-03-2021, 05:30 PM)TinStar Wrote: Ok I'm just a simpleton but is Elon Musk legally manipulating the stock market using social media/his extreme wealth?
It seems that he can use his celebrity to drive stock prices up/down and use his ability to buy/sell massive amounts to also drive prices up/down. I felt with dogecoin that he absolutely used his celebrity to boost the value.
I also feel that he may be doing this with tesla as well(granted... I'm an idiot...). But him selling off massive amounts of tesla stock, making decisions for the company causing the stock prices to fall, and then repurchasing his stock seems very manipulative(I don't think he has purchased any since he sold recently, but I'm waiting for it to happen).
I mean he obviously was manipulating the crypto market with Dogecoin (because Crypto is a fraud). I made some quick in and out cash but there are definitely ethical and possibly legal issues.
But hey, I drank the Koolaid and own a Tesla so who am I to argue?
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(12-10-2021, 04:11 PM)Skelas Wrote: You all sound like old men screaming at kids to get off your lawn.
The new future is buying oceanfront property in Idaho.. Also I have a bridge in Brooklyn to sell you.
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(12-11-2021, 05:09 PM)Jakensama Wrote: (12-03-2021, 05:30 PM)TinStar Wrote: Ok I'm just a simpleton but is Elon Musk legally manipulating the stock market using social media/his extreme wealth?
It seems that he can use his celebrity to drive stock prices up/down and use his ability to buy/sell massive amounts to also drive prices up/down. I felt with dogecoin that he absolutely used his celebrity to boost the value.
I also feel that he may be doing this with tesla as well(granted... I'm an idiot...). But him selling off massive amounts of tesla stock, making decisions for the company causing the stock prices to fall, and then repurchasing his stock seems very manipulative(I don't think he has purchased any since he sold recently, but I'm waiting for it to happen).
I mean he obviously was manipulating the crypto market with Dogecoin (because Crypto is a fraud). I made some quick in and out cash but there are definitely ethical and possibly legal issues.
But hey, I drank the Koolaid and own a Tesla so who am I to argue?
I don't really have a problem with what Musk is doing because he's not breaking the law and in a way I almost feel like he's trying to force change(maybe I think too highly of him?). But I see other "celebrities" doing similar things. They go buy a bunch of really cheap shitty crypto and then on social media claim "Dogshit is the next biggest thing, get on it now while you still can!!!" and you look and it's worth nothing.
I would totally own a Tesla but it's just not feasible for me, especially for that price tag. I tried talking my wife into getting the suv but she's not a car person and wasn't buying it heh..
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Everyone is trying to get on the Crypto train by releasing some POS to sell and get rich off of. Tiger king? come on now....
Future is NFT, Metaverse, Blockchain and yes you will see Crypto being taken by car dealerships, banks etc.
We can all look back at this post in a year and see what happened! Go Go CRO!
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(12-15-2021, 08:03 PM)Crice Wrote: Everyone is trying to get on the Crypto train by releasing some POS to sell and get rich off of. Tiger king? come on now....
Future is NFT, Metaverse, Blockchain and yes you will see Crypto being taken by car dealerships, banks etc.
We can all look back at this post in a year and see what happened! Go Go CRO! It is another avenue, but it isn't "THE" future. Crypto has a lot of education to get through before it becomes more mainstream(will also have to lose some of it's volatility). I'd wager 95% of the population have no idea what it actually is, and those that do invest in it, for the most part, just do it based on it being A) The cool thing to do or B) because they like gambling.
I don't own kid gloves.
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