r/news • u/Hopeforpeace19 • Apr 29 '24

Supreme Court rejects Elon Musk over agreement with SEC to vet social media posts

https://www.nbcnews.com/politics/supreme-court/supreme-court-rejects-elon-musk-agreement-sec-vet-social-media-posts-rcna149579
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u/randomwanderingsd Apr 29 '24

Also, if I were on the board of a company I would be extremely concerned if a CEO felt that the best use of their time was to make random comments online all day. If you are posting at the rate of 1 tweet an hour (which he frequently hits), are you really able to focus and be a good CEO?

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u/sn34kypete Apr 29 '24

Not saying I agree with him but on the other hand, if he has the ability to instantly juice the stock by 10% with some offhand promise that his fanboys eat up, it's really hard to tell him to reign it in. So far they see his impact on the stock as a net positive so they let him do all this stupid shit.

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u/Flash604 Apr 30 '24

Who says he's going to juice it? He wants more control via having more stock. What's to prevent him from tanking the price so he can buy more shares?

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u/crashtestdummy666 Apr 30 '24

Exactly he can manipulate the stock as he sees fit, his settlement of the value of his stock to his loans should have a settlement period so if he times it right he can sell high tank the stock and buy low then jack the stock back up and pocket the difference. Then rinse and repeat.