We are living in a world where tweets are now considered as accurate financial data. All previous financial channels are now redundant.
I'm imagining the entire wall street floor exploding in rage and confusion when they found a $1 difference based on a sentence on social media.
we're living in a world where the president is conducting diplomatic posturing through Twitter.
Like that should be absolutely illegal.
haha 420 that's the weed number lol
I'm not sure we should make it illegal, any half competent president wouldn't be writing the thing the guy that was elected is writing. Having generally open public dialogue between world leaders is a natural thing that we should move to if we really want a good democracy.
Just try not to elect someone like that again and we should be fine.
https://files.facepunch.com/forum/upload/192500/b0289b8c-2cf1-42b2-b757-82da3b1f7d57/image.png
I got worried for a second.
This is nothing new. When valuating a company, part of the valuation is the public's reception of the company.
no, I think official WH statements need to be made through proper channels, social media use needs to be regulated there's just no control over the message and the limits of the medium make any message dangerously vague. its not worth the risk. the WH should only be allowed to use it to make announcements regarding policy or scheduling for official statements, that's it.
A CEO of a company making any statements (truthful or misleading) about their company, which would have a material impact on the valuation of a company’s financial instruments, is a very serious thing. And there are carefully crafted rules in place to minimise the impact of such qualitative statements.
The $1 difference between the $419 and $420 proposed buyout price is a relatively minor footnote. The big problem was Elon, in his capacity as CEO of Tesla, explicitly stated that funding was secured for a share buyout, when that simply wasn’t the case (and he did not give SEC the required notice).
The share price understandably jumped at first - and sellers made bank on that movement. Some shareholders very clearly benefitted. But then the buyers at the new market rate got rorted when it was discovered that Elon as a CEO was talking shit, causing the share price to plummet, and so they were stuck with severely overvalued shares.
I really don’t understand how anyone can defend Elon here. If this was any other CEO, Facepunch would tear into them like a pack of rabid dogs.
To be honest if it was some other CEO, I"m not entirely sure it would have made it to Facepunch at all. Most likely wouldn't hit popular public papers as a leading article at least.
because a lot of people are brainwashed musk fanboys
Elon Musk's descent is something you could soundtrack with Carmen
https://forum.facepunch.com/f/sh/btroc/Elon-Musk-may-have-committed-securities-fraud-to-make-Grimes-laugh-SEC-lawsuit/1/
We already have a thread on this. The issue isn't the price, but that he said "funding secured" when he didn't have funding secured.
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