Typical market manipulation move. He’ll probably announce something regarding bitcoin and the federal reserve today to artificially bump that up too.
Typical market manipulation move. He’ll probably announce something regarding bitcoin and the federal reserve today to artificially bump that up too.
There’s literally no reason besides market manipulation. Even if he knew how to drive, the president is not allowed to drive for the rest of their life after being elected.
This is while he was Vice President, who are not allowed to drive while serving plus six months after their service as vice president has ended per video linked.
Ridin’ with Biden
Not allowed by who?
It’s not a law, but more of a rule enforced by the secret service. Ever since JFK the secret service has restricted the ability of the president to drive outside of private property. There was one time during Obama’s presidency when the secret service went into an immediate panic when decided to drive around the white house.
So I guess you technically could, it’s just an incredibly stupid thing to do. It’s an easy way to piss off the secret service and put your life at risk for no reason.
I mean…
This isn’t even market manipulation. It’s one sale. That makes functionally zero difference to Musk’s bottom line.
In fact, if you’re dumping Tesla stock because the brand image has been utterly destroyed by Musk’s actions, this is just more reason to sell. Trump openly associating himself with the car is just making that problem worse.
The only good outcome for Musk here is if Trump’s cult all decide to follow suit, and that ends up being a win for the rest of us anyway since now all the “Fuck the environment” guys are suddenly driving electric cars.
That’s the manipulation
Except his cult is made up of trailer park dwellers that elected him because they couldn’t afford the $100 it takes to fill up their 2004 RAM 3500. Those people aren’t buying Teslas which is why their stock is down 50% since the beginning of the year.
Stock price isn’t based on what people are buying, it’s based on what people think the value of the company is.
If the president endorses a product, the market as a whole values the company that makes said product more.
Case in point, Tesla stock is up over $8 since Trump’s announcement.
It may not be directly related to people buying as in someone buying a Tesla won’t ratchet up the share price that day, but sales absolutely do affect a company’s value once the quarterly reports come out. What people speculate it’s worth doesn’t really matter if they’re not making any money currently and not expected to in the foreseeable future.
I don’t think Trumps endorsement is really worth anything to Tesla unless he plans on sinking a ton of taxpayer dollars into them. The price is now up $11 but can just as easily drop back down as the only people being swayed by the president’s statements are his sycophants.
Your comment makes it seem that you haven’t spent much time in the suburban south near any mega churches.
Those who haven’t already will gladly trade in their Escalades and Cayennes for a Model X if their pastor tells them to.
Let the ‘good ol’ boys’ know that the rolling coal equivalent for an electric vehicle is to connect the battery to the frame. That’ll really show the libs!
Yeah I really highly doubt any MAGAts out there are going to pony up to buy an electric car. LoL, Musk torched the base of people who were buying his dumb cars and now he’s paying for it.
The all-too-slow decline of TSLA stock value is a daily source of joy for me.
P.S. I’m also going to have a glass of wine in celebration when Bill Gates cashes in his short.
I cannot do so much as a quick trip to the grocery store without seeing at least one cybertrash driving around. I would wager MAGAts are the only people buying Teslas right now.