Scholarship table
Costco (COST) had one of its best months ever, and its stock has hit an all-time high, breaking $600 for the first time. It looks WAAAAY overvalued, but it always does. It's the best business model in all of retail, as folks pay membership fees just for ther right to spend money there. I was just at my local Costco yesterday, and it was packed - on a Wednesday afternoon.In polls, consumers claim they are struggling and are very worried about inflation. In reality, consumers are spending money like drunk sailors, not just at Costco but also at other stores, at restaurants, on cars (when they can get them), on houses, everything.
Who is going to be more aware of rising prices than those who spend a lot of money?
Securites fraud and market manipulation, it would be nice if the man-child was ever held accountable.Elon Musk targets Twitter with $41 billion cash takeover offerhttps://www.reuters.com/technology/elon-musk-offers-buy-twitter-5420-per-share-2022-04-14/?utm_medium=Social&utm_source=twitterHilariously, the market knows his offer is bullsh!t as the price hasn't budged, though if his fanbois jump in it still could. Either way, the calls I wrote at a $60 strike should expire worthless.
Market manipulation? Thats dramatic. He didn't tweet it. He didn't flippantly say it on IG Live. He wrote it in a letter to the board and it was released in a regulatory filing. His stake in Twitter is worth $3B, give or take. A 10-20% jump gives him less than half a billion in gains. I'm fairly confident he's not in this to make a quick buck. Regardless about what you feel about his actions with TSLA stock, its a bit different.Its all bluster to try and get Twitter to cave to his demands or let him control it. Which are tactics that have been on for decades to the days of LBOs and corporate raiders.There false rumors that spike and fade stocks every week. As much as he taunts the SEC, if he actually crossed lines, they would be salivating at a chance to slap at him.
The manipulation started with him "forgetting" to file his 5% ownership stake on time, then inaccurately saying he was a passive investor, which allowed him to accumulate stock for $165M less than he could have if he had done it legally. There is most definitely also a large ego element to this, but he does it because he can get away with it, with at most a $10M hand slap. He gets his jollies and pockets an illegal $155M, all with no real repercussions. Why? Because he is rich, he can, and it amuses him.Did you really dismissively write that he'll only make $500M by pumping the stock?
Yes, cause its a legitimate point and it needs situational context. Like I said, he's worth $250B+. $500MM in a pump is the equivalent of someone worth $10MM making under $20K. It doesn't move the needle. $5B? Ok maybe thats a different discussion, but this was just not significant in the net worth/meglomania discussion.Its ego, its chaos, its amusement, its not some sort of gambit to make quick money. He could do it far more effectively and on a great scale with TSLA if that was really his goal. Or with other tech companies.I'm not a Musk fanboy, but I don't share the blind hatred and fury at him that others do which lacks context and understanding.
Sorry guys, but IMO your responses are exactly the problem. You are both dismissing $500M of illegal gains as no big deal because it doesn't represent a large enough, in your opinions, percentage of his net worth. Why do the ultra-wealthy get to play by a completely different set of rules? Further, as I said before, Musk does this crap because he can, no one ever holds him accountable...and you are both OK with that.
You're not responding to JWags' point about others manipulating the market.
My response is exactly the same: shouldn't they be held accountable? If not, why not?
Media Commentary supporting Mr.Muskhttps://www.foxnews.com/media/elon-musk-twitter-buy-caitlyn-jenner-hannity
He should be blamed for many things.