Oso planning to go pro
Musk should be investigated and punished by the SEC for blatantly manipulating stock prices.Tax these psychos down to under $1 billion.
If you owned Twitter stock would take Musk's offer? https://www.bloomberg.com/news/articles/2022-04-14/elon-musk-launches-43-billion-hostile-takeover-of-twitter
Will the stock tank short-term if it doesn't happen?
Tank? Nah. It was around 40 before his 9% stake was announced. The spike from the this announcement is basically gone. If it recedes, it wont go much past 40 IMO.
40ish still seems like. a good buy long term regardless of how this plays out.
If they monetize the damn thing. Their ad-supported model is horribly executed; either fix that so it is 5% as effective as FB and GOOG, or move to a subscription model scaled to your number of followers. Or both. Dorsey couldn't seem to care, I was hopeful the new management would shake things up. We'll see.Fait points.
He's manipulating stock prices for a few hundred million when he's worth $250B and is selling all his possessions? Unlikely. Its not like he said he'd offer $100 a share. Its an ego play, pure and simple. He wants to remake Twitter how he wants or cause chaos while trying.Worse manipulation happened weekly or daily during the height of the pandemic.Hedge/PE funds and companies do this stuff all the time, in far more impactful ways and the SEC does nothing. But good luck with your wealth tax Lizzie
There's a level of wealth at which one would no longer be willing to game the system?If that were true, Musk would have stopped a long time ago. I would suggest that wealth is a secondary motive to gaming the system.Also, Bernie Madoff was worth $68 billion when he finally got caught.
You're speaking far more broadly than I am. Some of lesser means may game the system to get a free drink or $5 or a gift card. Or game the system for a free flight or something. At a certain level of wealth, stuff like that is no longer worth it. Whether the time, or effort, or risk. If gaming the system for illicit stock gains for significant wealth generation was truly his goal, there are far better vehicles for it, as I mentioned. Lower floats, more volatile stocks, more prone to news spikes, etc... Twitter has long been a favorite topic and focus of Musk's before he ever took a stake. Whether sh*t-tweeting, or random polls, or talking about an edit button, etc... Sure he won't donate the profits to charity, but this isn't like Phil Mickelson or other insider trading cases where profit was the intended goal.As for Madoff, a ponzi scheme is apples to oranges. By nature they have to get bigger and bigger. Not like Madoff could have just stopped cause he had enough.
Well, let's just agree to disagree with what lows the wealthy will stoop to in order to further their wealth. I think history is replete with examples supporting my case. As for Madoff, he was an exceptionally wealthy person long before he became a criminal. As was Michael Millken. And Ivan Boesky. And Martha Stewart. And Raj Rajaratnam. And the Enron guys. And so on and so forth.
Inn a New York nanosecond, aina?
Wags ... who said Musk was doing anything criminal? Seems like a red herring to defend the argument that this very rich man is so rich he would never game the system to get richer.