How is this not stock price manipulation?

And as such, a crime, or at least incur civil liability?

Musk’s tweet about buying Manchester United no joke for fed-up fans
https://finance.yahoo.com/news/elon-musk-says-buy-manchester…

“To be clear, I support the left half of the Republican Party and the right half of the Democratic Party! Also, I’m buying Manchester United ur (sic) welcome - Elon Musk,” the 51-year-old tweeted to his 103 million followers.

[hours later…]

No, this is a long-running joke on Twitter. I’m not buying any sports teams," Musk posted, when asked if he was serious.

Even so, Musk’s musings ignited trading in the company’s U.S. listed shares ahead of the New York market open. They briefly jumped as much as 17%, before settling around $13.20, about 3% above Tuesday’s closing price.


Anyone that purchased that stock based on that tweet would seem to have a claim.

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Anyone that purchased that stock based on that tweet would seem to have a claim.

How Musk is not profiting?

People are free to say what they want.

Manipulation is usually based on insider trading.

People trading stocks are gambling. I have seen all sorts of idiots say they have it under control. Nonsense. Obviously. Then the next claim “I buy and sell but am not a trader”. LOL Ph.D. (piled higher and deeper)

Years ago, I owned stock in Perrigo, a maker of store brand OTC pills, based in Allegan, MI. I went to the shareholder meeting one year in the 90s. The human broker I used back then was also at the meeting. His firm made a market in Perrigo stock. The broker got up during the Q&A session and asked about someone trying to buy Perrigo. Management denied anyone was trying to buy the company.

There was no potential buy-out. The broker was trying to start a rumor to juice the stock, he admitted it to me.

So started Steve’s education in how corrupt Shinyland is.

Steve

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So started Steve’s education in how corrupt Shinyland is.

If that’s corruption you live in UniCornLand! LOL

The Captain

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And as such, a crime, or at least incur civil liability?

Does Musk have a position in Manchester United?

DB2

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This is just yet another excellent example in a long list of them why when Elon Musk says something you should disregard it.

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This is just yet another excellent example in a long list of them why when Elon Musk says something you should disregard it.

I disagree. One needs to get used to Elon the Showman and to use the requisite Elon Filter to decide what is real and what is show. Way back when (2014?), while invested in Kandi (KNDI), I really disliked Elon Musk. I remember him putting on a show about battery swapping because that was the trend of the day. Teslas were not designed for battery swapping and in the end it proved a failed technology.

The Kandi investment turned out to be very successful as they were calling Kandi “The Chinese Tesla.” More important was what I learned about EVs, what works and what does not. I exited KNDI in May 2015. In September 2020 I listened to Tesla’s Battery Day, became convinced that EVs had “Crossed the Chasm,” and started accumulating TSLA.

Now Elon Musk amuses me! Elon is no ordinary capitalist, he is half capitalist, half idealist, and half showman. Yes, three halves!

The Captain

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Does Musk have a position in Manchester United?

A common misconception is that one must personally gain in order for there to be market manipulation. That may be the criminal definition (I don’t honestly know) but it would not protect you from civil liability.

https://www.investor.gov/introduction-investing/investing-ba…

Market manipulation is when someone artificially affects the supply or demand for a security (for example, causing stock prices to rise or to fall dramatically).

Market manipulation may involve techniques including:

Spreading false or misleading information about a company;
Engaging in a series of transactions to make a security appear more actively traded; and
Rigging quotes, prices, or trades to make it look like there is more or less demand for a security than is the case.


Saying you are buying a company, resulting in a 17% price increase, only to then say you were just joking, certainly fits the above definition.

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