Elon Musk Considering Taking Tesla Private at Stock Price of $420 | Hacker News Reader

Elon Musk Considering Taking Tesla Private at Stock Price of $420

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40 pointsblendergeek20 comments

The reason this tweet is (probably) legal is that (a) it doesn't financially benefit Musk and (b) if he actually is considering this then it doesn't "artificially" affect the price. Even deliberate stock manipulation can be legal if not done for profit: https://en.wikipedia.org/wiki/Sarah_Meyohas#Stock_Performanc....

Musk's entire compensation package is tied directly to stock performance targets in the form of market value. Saying that the stock price does not financially impact (positive or negative) Musk is flat out incorrect.

Uh. That does seem bad.

This has to violate some SEC rule.

Michael Dell actual did buy Dell, and got in major legal trouble for it. It's an amazing story. HN discovered it.

https://www.bloomberg.com/view/articles/2016-06-01/michael-d...

A very bizarre logic did that judge follow.

If cars were American companies:

1. You come to a car auction and sell your car for 10$

2. The buyer of your car sells it for 13$ tomorrow

3. A guy who was selling another car for 12$ sues you for selling your car cheaper than his, and somehow wins

Are these kind of tweets even legal?

I wonder the same, Musk has done this before, by claiming Tesla has filed bankruptcy, last April 1st. Source: https://www.bloomberg.com/news/articles/2018-04-01/elon-musk...

Well, thats an easy way to get a 5% stock price increase.

That tweet was 9 words, and increased TSLA's market cap by $2.55 Billion dollars.

Or $283 million per word.

Some verified account pretending to be Elon posted spam in the thread. How is that allowed?

It's been that way for months: https://www.buzzfeednews.com/article/ryanmac/scammers-are-im...

Twitter recently tried to fix it by locking nonverified accounts which change their name to Elon Musk (https://www.theverge.com/2018/7/24/17610348/twitter-elon-mus...). Now scammers just hack verified accounts to do it.

Is Musk the only celebrity this happens to?

It also happens to Trump.

It seems like they could fix this by removing or graying out verified status when they change names.

I am under the impression that this is now the case

This article is talking about unverified impostor accounts. This thread had _verified_ accounts that changed their name which is even more insidious.

He was high on THC when he made the comment

Business insider article: https://www.businessinsider.com/elon-musk-says-may-take-tesl...

Outline.com in case there is a paywall: https://outline.com/R6XSyV

trading halted.

420 enough said, seem some people are lacking sense of humor

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