• sugar_in_your_tea@sh.itjust.works
      1·
      1 day ago

      Elon can’t easily buy or short his own stock, there are regulations that require advance notice of any trades. So Elon’s priority is to move the stock higher, since he can’t time the stock.

      • sunzu2@thebrainbin.org
        1·
        1 day ago
        1. Elon is not the only market participant
        2. None of these people follow laws
        3. Elon done bad shit sec did nothing he literally said he doesnt respect the sec on twatter

        Lemmy normie: Elon wouldn’t do something that violates SEC regulations 🤡

        • sugar_in_your_tea@sh.itjust.works
          1·
          1 day ago

          He was forced to buy Twitter, and he said as much in an interview:

          Clayton: So then you change your mind again, and decided to buy it – did you do that? Did you do that?

          Musk: Well, I kind of had to.

          Clayton: Right. Did you do that, because you thought that a court would make you do that?

          Musk: Yes.

          Clayton: Right.

          Musk: Yes, that is the reason.

          Clayton: So you were still trying to get out of it. And then you just were advised by lawyers, “Look, you’re going to buy this?”

          Musk: Yes.

          So yeah, I do think he has some respect for the SEC.