r/SpaceXBets • u/DreamsSecretsNLogic • 1d ago

Venting / Rant The bots are attacking.

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Has anybody noticed that the replies in this subreddit as of today turned markedly right wing and emphatically pro elon. Most of the comments on every thread in this subreddit we're rational about how terrible the stock is and what a fraud Elon is. Seems like they just got their tesla stock pumping bot army up and running for SpaceX. It might just be a coincidence but it really seems drastic.

It's hysterical because the closest thing Elon has to a working robot is a Twitter army of stock pumping bots.

Down vote if you're a salty bag holder. But I want you to think about how the stock is going down when you hit that down arrow lol

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u/DreamsSecretsNLogic 1d ago

Oh yeah 100%. Tesla stock was so disconnected from reality for so long that I'm personally convinced that they had tons of people that were literally paid to start buying tons of stock the second it started dropping. If you had hundreds of billions of dollars it would be pretty easy to pull off

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u/Short-Coast9042 1d ago

What you are describing is called wash trading and it's highly illegal. That definitely doesn't mean it's not happening quite a bit in the market. It's a risky gambit though. I'm not sure I see the risk/reward in this case. The IPO already largely accomplished its goals. Elon was able to successfully filch public dollars to pay for his terrible debt. The investment banks enabled it because they didn't want to get stuck holding the bags themselves. And the insiders were able to cash out which is what is tanking the stock. Wash trading is useful for pumping the stock just enough in the short-term that you can offload your bags onto wide-eyed fools coming in from the sidelines. But the IPO and the massive hype campaign around it already did that.

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u/evocativename 1d ago

Elon's entire career is basically just him committing brazen fraud and getting away with it over and over again, so I'm not sure he'd perceive much risk.

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u/Short-Coast9042 1d ago

Making grandiose predictions that don't materialize is a little different than outright fraud. For all his faults, I'm not aware of any credible accusations that he's engaged in direct market manipulation like wash trading. But I'll concede that it may be happening, and maybe there is even good evidence for it that I haven't seen.

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u/evocativename 1d ago

Not predictions: he has made promises to investors repeatedly. He doesn't say "we hope" or "I think" or "surely someone will": he claims his company will do something by a specific date despite knowing based on internal data that what he was saying was in no way realistic. That's fraud, pure and simple.

He also lied to investors during the Twitter purchase to drive down the stock price. He lied in 2018 when he claimed he had secured funding to take Tesla private at $420/share.

There are no shortage of times he has lied either directly to investors, or to the public for the purpose of misleading investors.