Welcome • User Guide
ToS • Privacy • Canary
Donate • Bugs • License

©2025 Poal.co

110

Elon Musk boosted the price of GameStop after he tweeted a link to the Reddit board where small investors had made a play to buy the stock at a low price:

https://www.cnbc.com/video/2021/01/27/gamestop-jumps-elon-musk-tweet-link-reddit-board-experts.html

Afterward, he tweeted about the scam. Read it here:

https://twitter.com/elonmusk/status/1354890601649610753

"u can’t sell houses u don’t own u can’t sell cars u don’t own but u can sell stock u don’t own!? this is bs – shorting is a scam legal only for vestigial reasons"

Elon Musk boosted the price of GameStop after he tweeted a link to the Reddit board where small investors had made a play to buy the stock at a low price: https://www.cnbc.com/video/2021/01/27/gamestop-jumps-elon-musk-tweet-link-reddit-board-experts.html Afterward, he tweeted about the scam. Read it here: https://twitter.com/elonmusk/status/1354890601649610753 "u can’t sell houses u don’t own u can’t sell cars u don’t own but u *can* sell stock u don’t own!? this is bs – shorting is a scam legal only for vestigial reasons"

(post is archived)

You are currently inside a comment thread.
Click here to see all the comments (28).
[–] • 1 pt

I don't think that hedge fund was as hurt as its pretending to be. It could have set up straw buyers to buy the opposite position when reddit produced an obvious actionable situation (which usually hedge funds are very good at acting on). So in essence they secretly hedged. Now they get to cry foul and sue a bunch of people, while not being as exposed to that position as they claimed to be.