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Stock Market Era |OT2| Taking SPY private at $420. Funding secured.

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Sheepinator

Sheepinator

Member
Jul 25, 2018
28,029
Ether_Snake said:
What?

They sold bitcoins earlier this year, they are not selling the ones they have.

I'm not sure why it matters though, there is no "market manipulation" here. There is plenty of criminal activities by banks no one is calling out, no one is saying "stop doing businesses with X bank" or "their CEO is a horrible person" because they don't Tweet.
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What?

They bought bitcoin, then announced they were accepting bitcoin as payment, which sent the price up, then they sold some, then they said they aren't accepting it any more, which crashed the price. All in the space of three months. This isn't even going into all the times Musk has pumped it, and who knows what he's doing with his own money. In the last couple of weeks he also pumped the price of Doge, then crashed it, then pumped it again. He was previously (lightly) punished for manipulating TSLA stock with lies about taking it private (hence this topic title).

And I won't be surprised at all if we later find out the company sold the rest of their bitcoin. I mean I believe they haven't sold it today, but next week or next month they might. They already have the cover for that, their excuse being it's not environmentally friendly.

He should be in jail.
 
chuckddd

chuckddd

Member
Oct 25, 2017
23,156
Rayasab said:
"Decentralized" ....
E1Og0X-XsAA95uL
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How much damage did Musk just do? $10,000,000,000 or so? How long until the SEC filing where we find Tesla bought $100B in Ether?

Ether_Snake said:
What?

They sold bitcoins earlier this year, they are not selling the ones they have.

I'm not sure why it matters though, there is no "market manipulation" here. There is plenty of criminal activities by banks no one is calling out, no one is saying "stop doing businesses with X bank" or "their CEO is a horrible person" because they don't Tweet.
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A - Save your gaslighting for someone else. I'm not discussing some other CEO, I'm discussing Elon Musk. If you want to see me go off on a different CEO, look for my posts on Palantir.

B - Tesla reported a profit of $272M from selling BTC on their last earnings report 2 weeks ago. Your argument is that Musk pumped bitcoin to sell some other bitcoin that they were hoarding? Or that he sold low and bought high? Once again, he is not naive and he is not stupid. I won't be shocked to find out Tesla sold out of the rest of their position in the last few days.

Does Musk have too much power over people? Absolutely. He just dropped BTC 10% all by himself. He raised it 20% all by himself when he pumped it on Twitter (right after the big buy). He's been fined for market manipulation by the SEC in the past, but it's a pittance compared to how much he's worth, so I'm not sure he cares.
 
Greenpaint

Greenpaint

Member
Oct 30, 2017
2,891
So uh this might be a stupid question but a thought entered in my mind. Wouldn't "market manipulation" in crypto require that crypto fell under some kind of regulations?

It sucks that one person can wipe out billions in assets with one tweet, but changing that would require regulating crypto and I wonder what crypto community at large thinks about that. Downside of an unregulated market is after all that it IS unregulated.
 

SRG01

Member
Oct 25, 2017
7,020
I think it still applies because there are financial products out there that track crypto. For instance, Canada has a number of ETFs that track BTC and ETH.
 
tadaima

tadaima

Member
Oct 30, 2017
2,843
Tokyo, Japan
Also to add to that, just because an emerging market is unregulated (or rather regulations are not fully implemented at a national level) it doesn't mean it can't be manipulated. It's just that the repercussions for those who do so are lessened. The crypto markets are manipulated by whales all the time, but it is becoming harder to do so for big names like Btc and Eth.
 
Advance.Wars.Sgt.

Advance.Wars.Sgt.

Member
Jun 10, 2018
8,848
DreamRunner said:
I just woke up and man, I fucking hate Musk.Hope TSLA crashes and burns.Fuck this clown.
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I wouldn't want the hardworking employees of Tesla who are catalyzing the proliferation of alternative energy usage to be lumped in with Musk.

They deserve the accolades, Musk does not. He can fuck off to Mars and no one other than his most devout acolytes would give a damn.
 
Bobson Dugnutt

Bobson Dugnutt

Self Requested Ban
Banned
Oct 25, 2017
6,052
I'm having the day everyone else appears to be having over the last week. At least I didn't put anything in crypto yet.
 
Prax

Prax

Member
Oct 25, 2017
3,755
Maybe it's just me but I do not particularly care if clownshoes Musk crashes crypto with his antics. Most of crypto is stupid, wasteful, and pure speculation play anyway. As far as I am concerned, he is only exposing it and separating the wheat from the chaffe.

On the other hand, I would like my portfolio to get back to performing well. I can only DCA so much before I tune out altogether lol.
 
lt519

lt519

Member
Oct 25, 2017
8,064
Why do people get so bent out of shape about someone manipulating an unregulated market? Crypto is basically a playground for bots, manipulators, and whales. Everyone else is just trying to ride in the wake and not get their lunch money taken.

The dude is despicable but if his job is to make his company money, then he didn't do anything illegal and in fact did his job well?
 
OP
OP
Sheepinator

Sheepinator

Member
Jul 25, 2018
28,029
Cathie Woods doubling tripling quadrupling down. She bought more COIN, Draftkings and Zoom yesterday. I wonder if some short funds have been hoping to engineer another Archegos type sell-off by trying to bust her fund, which I saw had some redemptions recently due to the very poor YTD performance.

www.fool.com

Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought | The Motley Fool

Things are rough for the kind of growth stocks that the popular fund manager owns, but she's going shopping for bargains these days.
www.fool.com www.fool.com
 
PanickyFool

PanickyFool

Banned
Oct 25, 2017
5,947
Sheepinator said:
Cathie Woods doubling tripling quadrupling down. She bought more COIN, Draftkings and Zoom yesterday. I wonder if some short funds have been hoping to engineer another Archipelago type sell-off by trying to bust her fund, which I saw had some redemptions recently due to the very poor YTD performance.

www.fool.com

Cathie Wood Goes Bargain Hunting: 3 Stocks She Just Bought | The Motley Fool

Things are rough for the kind of growth stocks that the popular fund manager owns, but she's going shopping for bargains these days.
www.fool.com www.fool.com
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She does not use leverage so it cannot bust that way.
 
TheWorthyEdge

TheWorthyEdge

Member
Oct 25, 2017
6,814
This market really is not fun at all to watch. Any gains you make are immediately erased and then it's a slow climb back to not even getting back to where you were, but just under it and then rinse repeat. :)
 
less

less

Member
Oct 25, 2017
10,839
Xpeng beats analysts expectations and as is the norm it is in the red right now lol. Even worse than Nio etc. Of course this is just early in the day and things can take a drastic turn for the better and more in like with how it was during pre-market.
 

pollo

Member
Oct 25, 2017
1,441
I was planning to hold onto amc for a year for the tax hit but fuck it i think if it breaks 15 again ill just sell
 
OP
OP
Sheepinator

Sheepinator

Member
Jul 25, 2018
28,029
Madness. AMC is already at an ATH (marketcap) by a long way and the company is a mess, with streaming on the rise too.

AMC Entertainment Holdings Market Cap 2013-2023 | AMC

AMC Entertainment Holdings market cap history and chart from 2013 to 2023. Market capitalization (or market value) is the most commonly used method of measuring the size of a publicly traded company and is calculated by multiplying the current stock price by the number of shares outstanding...
www.macrotrends.net www.macrotrends.net
 
Shadout

Shadout

Member
Oct 27, 2017
1,808
Ouch, BABA.
My other US based stocks are also not benefiting from the rebound :/ AMD and NIO in particular. The pain won't stop.
 
chuckddd

chuckddd

Member
Oct 25, 2017
23,156
I'm not sure we'll see the S&P correct, but we'll see it rotate around. XLK, which tracks the technology stocks in the S&P is down almost 10% from 4/26. Going back up today, though. Dead cat bounce? Longer term trend? Dunno.
 
Shadout

Shadout

Member
Oct 27, 2017
1,808
One of those days where it feels like the market with laser precision is targeting my stocks specifically. Damn. Yesterday suddenly feels like a decent day.
 
less

less

Member
Oct 25, 2017
10,839
FCEL below $7. PLTR below $19. Xpeng and Nio at lows not seen in quite some time. Tesla close to $550. I hope they find a floor soon.
 
Jebusman

Jebusman

Member
Oct 27, 2017
4,088
Halifax, NS
Are memers trying to make another squeeze play on AMC? Seems like an odd time to be doing so.

Edit: Is this people dumping out of crypto and back into other memes?
 

Gpsych

Member
May 20, 2019
2,897
Ugh. And now I'm down for the year. Hopefully this bleeding stops at some point. I'm so tempted to just get out of the whole thing, but intellectually I should actually be buying at this point. But it's all soooo terrible.
 
less

less

Member
Oct 25, 2017
10,839
Gpsych said:
Ugh. And now I'm down for the year. Hopefully this bleeding stops at some point. I'm so tempted to just get out of the whole thing, but intellectually I should actually be buying at this point. But it's all soooo terrible.
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I fear that we may have quite a bit more bleeding to go for a number of stocks. The less said about a possible recovery the better. D:
 
chuckddd

chuckddd

Member
Oct 25, 2017
23,156
I was perusing the AMD charts and if the price doesn't hold soon, I don't see any support levels. I'm in at $52, but c'mon!
 
oRuin

oRuin

Member
Oct 25, 2017
720
In in deep red. So much red I can't look honestly.
I have been watching some tickers but I don't see a bottom yet. Not putting anymore money into the market until I see the bottom. I don't see it yet.
 

ParanormalFupa

Member
Oct 27, 2017
6,148
I feel like Fridays have generally been positive after these rough weeks so maybe we'll get a little relief going into the weekend.
 
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