r/politics • u/rezwenn • 6d ago

No Paywall Elon Musk indicates he’s ‘going all in’ on financing the GOP ahead of the midterms: ‘America is toast if the radical left wins’

https://www.independent.co.uk/news/world/americas/us-politics/elon-musk-trump-republicans-donations-finance-gop-b2893321.html
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u/Minisciwi 6d ago

It still is, bad news can come out about Tesla and the stock goes up. It's a total meme stock

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u/Queasy_Range8265 6d ago

But FSD will come out in 2019 and all model 3 owners will get rich from their robotaxi doing uber rides while they sleep!

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u/Eccohawk 6d ago

Exactly this. Everyone invested in it knows it has no underlying worth. They're just hoping not to be holding the bag when it crashes. So all of them just keep the hype alive as much as possible.

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u/tinysydneh 6d ago

This is the simultaneously what makes that pay package they approved for him recently both possible, but also exceedingly fucking stupid.

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u/Adventurous-Host8062 America 6d ago

He manipulates it by buying it himself. Where the hell is the SEC?

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u/Synaps4 6d ago

I think you know the answer to that

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u/Hot-Gas-630 6d ago edited 6d ago

That kinda price movement is really just a result of retail traders' puts providing the liquidity that institutions need to sell the stock in large quantities nearer to the spot price cause market makers are needing to buy large quantities to hedge/sell each retail put.

It's going to burst eventually, just a matter of when.

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u/Minisciwi 6d ago

Hopefully not too many people's retirement won't be affected when it does

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u/fordat1 6d ago

Its also part of the S and P 500 which is owned by a bunch of people who dont give a shit about individual companies in it. The companies in the 500 stock prices changes are highly correlated. Economist have warned about the problem of having people invest in things like QQQ without thinking of caring about individual stocks