they fined this guy $20 million for a 420 joke?
They fined this guy $20 million for a 420 joke?
Bentley Torres
Cameron Brooks
He promised the stock would be bought out at $420. The stock is under $300.
Levi Scott
of course, (((they))) have been waging a war on him
Caleb Reed
>mo' money mo' problems
except in the case of ChainLink, then it's less' money mo' problems
Colton Kelly
Your misinterpreting the fine. He actually did the math for going "private" at around $419 If I recall, he was going to post it anyways but thought it would be funny for his GF to bump it up to a round 420.
And this:
Juan Price
>a 420 tweet is now a promise
boomer investors are the biggest fucking crybabies. they will whine about anything no matter how ridiculous the premise if they think they might have a chance to get some easy monry from it. they should be dropped in the midde of the siberian tundra and left to fight each other for food
Kevin Collins
i play 5d chess. elon must was mad at shorters, so he made that fake tweet to pump the price and hurts shorters.
Zachary Phillips
>People lose a whole bunch of money because the CEO lied through his teeth,
>Its the victims fault.
Brayden Russell
>people invest based on twitter
they're adult children
Cameron Ross
They should have fined him 420 mill
Tyler Price
>Musk mocks the SEC as the 'shortseller enrichment commission"
>TSLA shares down 3%
Why do people fear the Chad?
Cameron Gomez
>Chad
OOHH NONONO PHHAHAHAHHAHAHAHHAHAHA
Liam Taylor
>why won't the jews let me lie about my company's value!
he's not going to take you to mars with him user
Austin Barnes
This guy commited securities fraud for a 420 joke?
Isaac White
I'M ALL OUTTA FUCKS
I'LL LONG THE SHIT OUT YOU
I KNOW YOU WERE RIGHT
ALL MEMING FOR SO LONG
Camden Russell
What if he had rounded up to 420 just because he thought it was a good idea? Since apparently he was the one who decided it should be around 420 anyway. Let's say the math actually came to 419.2056, would he be fined for making 419 instead of 419.21?
Austin Bailey
Might wanna look into it. He tripled down on the joke saying it was only contingent on a shareholder vote and also lied about non-accredited investors being able to keep shares in a private company. Then he kept the ruse going for weeks. And there was never even an ounce of evidence he ever had "funding" or anything close to it, much less having it "secured". It was the most blatant securities fraud ever committed in the history of public markets and he got a slap on the wrist for it.
Kayden Walker
>person is literally responsible for privately spending shuttles and cars into space
>his inventions are literally leaping mankind forward, with the likes of tesla, paypal, and his smaller ventures
>does this shit for fun because he is a great inventor and businessman
>cucks on Jow Forums make fun of him because of random personal shit
based blue pilled business board
Asher Peterson
He's still CEO so who cares. Ol' Musky is a subsidized homofag anyway.
Blake Torres
>personally responsible
10/10 bait
Blake Scott
he didn't promise anything though.
>"Am considering taking Tesla private at $420. Funding secured."
if you lost money based on that tweet you're a retard.
Grayson Baker
I was short Tesla last spring for a period of a few months and closed that position long ago. I'm not touching this stock either long or short because it's just like bitcoin. It moves up and down for no reason or rhyme and it can jump up or down 10% based on nothing but a tweet. Not to mention the fact that Elon Musk is a fraudster but he gets away with fraud so this stock is nothing but a circus play. Musk is even dumber than I thought. Mocking the SEC, falsely accusing people of raping children, lying about buyouts, etc. This guy obviously needs to be fired.
Isaiah Walker
The best part is it’s pretty obvious the next steps are for him to scapegoat the SEC and say that their devaluing of his stock price is why he can no longer pay his debts
Mason Ward
Elon lost 20 million.
Does that mean he's a retard?
Evan Sanchez
Julian Martin
did he lose it buying tesla stock because he thought it was going to $420?
if yes then sure, he's a retard.
Leo Adams
get a load of mr. genius-in-hindsight over here
Brandon Bell
He's being forced to buy 20 million dollars worth of his shit stock, so in a way, yes.
Christopher Baker
he's a retard for announcing to the public that he lied about his company's value for fun
Juan Moore
i know right it would have taken a genius to not buy tsla after 1 tweet that doesn't promise anything and with no proof of funding or literally anything else.
my b user, how stupid of me.
Adrian Thomas
>Your misinterpreting the fine. He actually did the math for going "private" at around $419 If I recall,
Explain how he "did the math" and decided his company was worth billions and billions more than it's current market value with $0 profit.
He said he had secured funding for a buyout, the price of his company moved and changed the market cap by billions of dollars. He lied, funding was not secured, no buyout was coming.
Fiduciaries of publicly traded companies have an obligation not to lie about the fundamental value of the company to move the market price of their stocks to fuck over shorts. It's really not complicated and the rule is perfectly reasonable and something everyone agrees to before taking on that kind of responsibility
>it was a joke
I mean not really user, and he did not immediately say it was a joke when he saw the stock price move... had he done that I would have sympathy and be tempted to say "Let it slide" but the reality of the situation is you can't do what he did and expect to continue being Chairman of the Board
Samuel Edwards
>>people invest based on twitter
Twitter is a valid way of disseminating information. The Pope has a twitter, the President of the United States of America disseminates information about international treaties and domestic policy to the public on twitter...
Isaiah Diaz
>It moves up and down for no reason or rhyme and it can jump up or down 10% based on nothing but a tweet.
If the CEO or Chairman of the Board of any majorly traded public company (such as warren buffet or Tim Cook) came out and tweeted their company was about to be bought out for 20% more than the current value of the stock per share and that funding had been secured, the stock price would move just the same as TSLA did
i mean seriously guys
Samuel Powell
>Twitter is a valid way of disseminating information.
Parker Bailey
Exactly. And I'm tying a noose as I read this. Peace out, faggots
Chase Miller
>>Twitter is a valid way of disseminating information.
explain to me how it's not?
It is secure, the accounts of major figures are verified, presidents and world leaders literally use it to distribute information on national policy...
Eli Fisher
if the information is already on twitter, then you're late to the investment
Alexander Gutierrez
Spank me with your cock daddy Sergey
I am that desperate, yes
Hudson Cox
>He promised
fucking kys you retard
but only after you look up "consider" in the dictionary
Dylan Thompson
>company CEO announces material information
>trade basing on said information
>turns out it was blatantly misleading
>"why you didn't read his mind, hehe, CEOs are expected to lie all the time"
Musk's acolytes are literally retarded
Landon Kelly
>2 hours ago
Kys
Jaxson Russell
he implied that he had secured private funding to take the company private. he did not have the proper deal secured and he did not consult the board about said offer. in no way was any funding secured. combined with the first part of his tweet lead to the market being mislead. we can objectively see how the market reacted and any reasonable person would conclude that musks tweet meant he had a viable offer on the table.
stop sucking his cock. he may not be a fraud outright. but he certainly did something foolish and misleading with his tweet and should be punished for it.
Owen Miller
yes, in hindsight it is extremely easy to say something like that
do you think it’s impressive that you’ve reached that conclusion
Ian Nguyen
Ugly AF hobbit feet, I wish I could sage your life for posting this trash
Bentley Taylor
He's a child who wanted to fuck over the "evil" shortsellers with fake news in a regulated market.
Jace Martinez
it's an internet website for children to post pictures of the food they order at restaurants. do kids just cite Wikipedia to write papers in school these days? anything on twitter is a creative work of falsehood and fiction that only a fool would take at face value
Ethan Scott
>it's an internet website for children to post pictures of the food they order at restaurants. do kids just cite Wikipedia to write papers in school these days?
have you gone retarded?
Twitter vets and verifies account owners. Again what part of "The Pope and President of the USA use this medium to announce policy" is confusing to you?
Joseph Wilson
I reject your facebook reality and substitute my own
Sebastian Cooper
>it's an internet website for children to post pictures of the food they order at restaurants.
wrong app.
William Bennett
Why is it securities fraud?
Hunter Morris
>we work with people LIKE swift
Oh yeah I’ve heard this before should’ve known better
Blake Gomez
because he lied as CEO of a company about a buyout to manipulate the market cap of his publicly traded company?
Owen Hughes
>if you lost money based on that tweet you're a retard.
be short, elon tweets lies, stock price jumps up and hits your press set stop loss triggering a buy
yeah how stupid!
Jace Garcia
buy it while its cheap
Luis Kelly
>buy it while its cheap
>$50billion dollar market cap
>$0 profits ever
>cheap
Cameron Edwards
Are you that user who bought at $380 immediately following the tweet?
Henry Turner
I see. I am but a simple shitcoin trader, thank you for explaining.
Carson Nelson
A lot of money is betting against tesla, they gotta bring him down somehow.
Elijah James
I remember some user went all in as soon as the tweet came out saying it was "free money you idiots"