Quote:
Originally Posted by TorqueDog
Watch the interview with Chamath on CNBC. The idea that this is some sort of illicit market behaviour doesn’t hold water. Everything is public, people post their positions.
Basically, the market manipulation argument is down to Wall Street getting annoyed that someone is beating them at their own game. “Rules for thee, not for me” kinda sh-t.
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Well I don’t know. It’s legal, and legitimate as long as no one is saying anything that’s completely untrue to manipulate the stock. The SEC has gone after people before for this, and it wouldn’t be altogether surprising to see that people would post one thing and do the complete opposite.
I felt like that interview was basically Chamath and Wapner talking past each other. Chamath basically says “this is legal and there’s nothing wrong with people doing this”. He’s right. Wapner says “someone is going to get hurt”. He’s also right.
I see the shares are over $460 in the pre-market today, so what do I know. This is insane!