Real people listen to this guy’s tantrums and they make investment decisions based on them. That’s a recipe for financial ruin. It’s like taking financial advice from a baby who likes to throw his expensive toys out of the pram.
We also know that Musk bought Dogecoin for his own son. The fact that he did made the coin’s value jump up another 16%.
Musk and his family are directly benefitting from every single pump scheme he runs via his Twitter account.
How is this not illegal market manipulation? How is the SEC not stepping in here?
Musk uses his huge trolling power and his legion of naive followers on social media to influence the value of any coin he has an interest in. He’s able to control the price of an asset and make it skyrocket or plummet as he sees fit — with a few words or emojis.
That’s too much power. The creators of the “Anonymous” video have a point here, and it’s hard to deny.
Investors have been begging Musk to stop his tweeting frenzy. It’s both creating and destroying real people’s wealth in the blink of an eye.
It’s not the first time this happens either.
Thanks to Musk’s previous erratic behavior, one investor claimed: “I have lost 30 years of my life savings, all in $tsla thanks to your tweets, please stop.”
Another’s tweet summarizes the situation and pleads with Musk to “think of us small people.”
People are losing their hard-earned money over foolish, careless comments from a man with too much power in his hands.
Yet another investor comments that “I’m in the same situation, most of my portfolio dedicated to Elon’s vision. However, I’m willing to risk losing it as long as he stands up for what is right!”
That’s how naive and influenceable people are. And they’re the ones suffering — not Musk and his $152 billion net worth.
It all looks like fun from the outside. Not if you bet a significant portion of your life savings into Musk’s companies and “vision”.
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