10 Feb 2023 1:34 pm
In other words, Vegas' stock market gambling was impacted?Vegas » 07 Feb 2023, 10:31 am » wrote: ↑ I don't agree with this verdict. Musk said that he obtained funding to take Tesla private. He didn't. It wasn't a mistake; he had no confirmation that the funding was there. The defense said just because it was a bad tweet, that doesn't make it fraud. Why wouldn't shareholders believe him? He is the CEO and Tesla is a multibillion-dollar corporation. Of course the shareholders are going to believe him. They have zero reason not to. Consequently, shareholders suffered billions in damages. And Musk's response is, well sometimes the market is crazy. No apology. No acknowledgement of what his actions caused. Nothing.
Unbelievable.
Very same thing happens with negative earnings surprises.