The Market 2022-2023-2024

[Russ Smith]

Musk takes a 9.2% stake in Twitter (TWTR). Interesting considering his recent comments.

I haven't studied it at all but first glance it seems like Musk announced he was considering creating a rival for Twitter, which knocked the price of Twitter down, then Musk bought 9.2% of Twitter, at a discount, driving the price up. That used to be illegal but I'm guessing it probably isn't anymore or he wouldn't have done it in broad daylight like that?

 

[BigRedRage]

I haven't studied it at all but first glance it seems like Musk announced he was considering creating a rival for Twitter, which knocked the price of Twitter down, then Musk bought 9.2% of Twitter, at a discount, driving the price up. That used to be illegal but I'm guessing it probably isn't anymore or he wouldn't have done it in broad daylight like that?

He tweeted asking if people thought Twitter fully protected free speech, mused about how the poll said no and mused about if he should take part in twitter, create an open source competitor or etc. Last week, he decided to purchase 9.2% of twitter

I imagine, a guy with more money than god, isnt purposefully manipulating the market to save a few percentage points off of a stock whose value is in the decline anyway before buying.

I'm guessing what this means in the future is opensource may be coming to twitter.

 

[Russ Smith]

He tweeted asking if people thought Twitter fully protected free speech, mused about how the poll said no and mused about if he should take part in twitter, create an open source competitor or etc. Last week, he decided to purchase 9.2% of twitter

I imagine, a guy with more money than god, isnt purposefully manipulating the market to save a few percentage points off of a stock whose value is in the decline anyway before buying.

I'm guessing what this means in the future is opensource may be coming to twitter.

Ordinarily I'd say ok except this is the same guy who talked about Teslas stock enough that the SEC actually fined him for doing it. He seems to speak first and then worry about the SEC issues later.

He bought 73.5 million shares of twitter, I don't know what day he made his comments about it before but one day recently the stock fell 2 bucks a share. Assume it was that day and he saved himsef 150 million dollars. And then made on paper 735 million if I'm doing the math right on 73.5 million going up 10 dollars a share. Again it's just too much in the open for it to be illegal nobody would be that brazen to make close to 3/4 of a billion dollars doing something illegal in broad daylight so it has to be legal?

 

[BigRedRage]

Ordinarily I'd say ok except this is the same guy who talked about Teslas stock enough that the SEC actually fined him for doing it. He seems to speak first and then worry about the SEC issues later.

He bought 73.5 million shares of twitter, I don't know what day he made his comments about it before but one day recently the stock fell 2 bucks a share. Assume it was that day and he saved himsef 150 million dollars. And then made on paper 735 million if I'm doing the math right on 73.5 million going up 10 dollars a share. Again it's just too much in the open for it to be illegal nobody would be that brazen to make close to 3/4 of a billion dollars doing something illegal in broad daylight so it has to be legal?

The congress that inside trades all day will surely care one way or another

03/25 is when he questioned twitter protecting free speech, FYI

 

[Russ Smith]

The congress that inside trades all day will surely care one way or another

03/25 is when he questioned twitter protecting free speech, FYI

Ok no real impact on stock price that day then.

Twitter and free speech seem silly it's a private company with a TOS agreement so if people agree to their terms they shouldn't complain but I guess he has a right to complain, it's just not a first amendment issue.

 

[BigRedRage]

Ok no real impact on stock price that day then.

Twitter and free speech seem silly it's a private company with a TOS agreement so if people agree to their terms they shouldn't complain but I guess he has a right to complain, it's just not a first amendment issue.

I dont think he claimed a first amendment issue. The tweets are public if you would like to review them. He simply asked if the public thought twitter went far enough to allow free speech on its platform.

 

[BigRedRage]

PS: Musk is the only twitter users I have notifications for. People tend to buy things immediately when he tweets about them. I use the notifications to often sell things he mentioned, like some Doge coin, to capture the surge profits.

So, yeah, I was watching all this happen in real time.

 

[Russ Smith]

I dont think he claimed a first amendment issue. The tweets are public if you would like to review them. He simply asked if the public thought twitter went far enough to allow free speech on its platform.

OK I guess I assumed him saying free speech meant first amendment but maybe he's not using it in that context.

 

[BigRedRage]

OK I guess I assumed him saying free speech meant first amendment but maybe he's not using it in that context.

its all right there. Just go on his twitter and scroll down.

 

[Russ Smith]

its all right there. Just go on his twitter and scroll down.

I did he doesn't use the words first amendment but it's quite clear in the responses that's what everyone thought he meant. A bunch of people saying they violate our right to free speech and a bunch of people saying it's a private company you have no right to free speech on their forum. So everyone that I saw made the same assumption I did, but he absolutely did not say the first amendment he said it's critical in a democracy do you believe Twitter does what they can to adhere to free speech.

So I have no idea what he meant. My answer would be no they don't but again they don't have to it's a private company.

I don't know what in particular he was complaining about I don't have twitter so I get a few posts and then up pops the logo asking me to sign up.

But if his comments didn't make the price go down then I don't see any issue with him saying it and then buying the stock.

 

[BigRedRage]

I did he doesn't use the words first amendment but it's quite clear in the responses that's what everyone thought he meant. A bunch of people saying they violate our right to free speech and a bunch of people saying it's a private company you have no right to free speech on their forum. So everyone that I saw made the same assumption I did, but he absolutely did not say the first amendment he said it's critical in a democracy do you believe Twitter does what they can to adhere to free speech.

So I have no idea what he meant. My answer would be no they don't but again they don't have to it's a private company.

I don't know what in particular he was complaining about I don't have twitter so I get a few posts and then up pops the logo asking me to sign up.

But if his comments didn't make the price go down then I don't see any issue with him saying it and then buying the stock.

yeah, I dunno, sounds like a P&R take, just like the general public made because everyone has to make everything about P&R all the time.

 

[Russ Smith]

yeah, I dunno, sounds like a P&R take, just like the general public made because everyone has to make everything about P&R all the time.

My original question was he can't have done what I think he did, badmouth the company to make the price go down then buy a ton of stock and make 3/4 of a billion dollars. That's not P&R at all it's completely a stock question. The answer appears to be no he didn't because it doesn't look like his comments actually moved the stock much the day he said it.

So it appears he did nothing wrong in buying the stock.

 

[Ronin]

Let's stay on topic please.

 

[elindholm]

Dude, if you think the post should be prohibited, just delete it, don't overwrite it. That's weird.

 

[Ronin]

Fair enough.

 

[Folster]

Dude, if you think the post should be prohibited, just delete it, don't overwrite it. That's weird.

What did I miss?

 

[elindholm]

What did I miss?

Evidently it is the view of the board's administrators that it is possible to discuss the U.S. economy in a political vacuum, and therefore any political commentary in the finance forum is out of bounds. A post of mine was re-written to be insipid, then subsequently deleted at my suggestion.

 

[Folster]

Evidently it is the view of the board's administrators that it is possible to discuss the U.S. economy in a political vacuum, and therefore any political commentary in the finance forum is out of bounds. A post of mine was re-written to be insipid, then subsequently deleted at my suggestion.

Oh weird. Hopefully we can discuss political economic issues without the normal partisan vitriol. We're all just shooting the breeze, trying to build wealth while getting outperformed by the S&P 500.

 

[Russ Smith]

Just to be clear my original comment was it appeared like Musk talked ill of Twitter using a political comment to lower the stock price then bought a ton of stock making money, which used to be illegal. After the date of his comments was posted I looked and in fact there was very little movement in the stock on the day he made them, so it appears my original comment was off base. He didn't really move the stock by saying it.

That was the point of my question did he do something illegal or not and the apparent answe is no.

 

[BigRedRage]

My original question was he can't have done what I think he did, badmouth the company to make the price go down then buy a ton of stock and make 3/4 of a billion dollars. That's not P&R at all it's completely a stock question. The answer appears to be no he didn't because it doesn't look like his comments actually moved the stock much the day he said it.

So it appears he did nothing wrong in buying the stock.

It looks like the stake was acquired MArch 14th, well before he openly talked about it.

 

[Folster]

Just to be clear my original comment was it appeared like Musk talked ill of Twitter using a political comment to lower the stock price then bought a ton of stock making money, which used to be illegal. After the date of his comments was posted I looked and in fact there was very little movement in the stock on the day he made them, so it appears my original comment was off base. He didn't really move the stock by saying it.

That was the point of my question did he do something illegal or not and the apparent answer is no.

I think the speculation was that he would start a new platform or pump a competitor, but that is extremely difficult. It's much easier to buy a large enough position to give you pull or even control the direction of the company... assuming you're a multi-billionaire.

 

[BigRedRage]

IMO the finance section of the board has done well with self regulation so far. No need for heavy moderation, whatever that was for.

 

[Folster]

It looks like the stake was acquired MArch 14th, well before he openly talked about it.

He's the closest thing to a real life King Midas.

 

[Folster]

Musk has now been appointed to TWTR board of directors. That was quick. He's not able to own more than 14.9% while on the board.

 

[dscher]

Musk has now been appointed to TWTR board of directors. That was quick. He's not able to own more than 14.9% while on the board.

Now we just need him on the board of directors of every other mega corporation and I'll feel a little more trustworthy of their doings...lol