Billionaire investor Elon Musk triggered a flood of Twitter users asking him for financial advice after he posted a single tweet — just one — with just some generic advice about trading the markets.
“Since I’ve been asked a lot: Buy stock in several companies that make products & services that *you* believe in. Only sell if you think their products & services are trending worse. Don’t panic when the market does. This will serve you well in the long-term,” he tweeted early Sunday morning.
Within hour hours, the tweet produced nearly 15,000 replies, many of them from young investors eager for advice.
Since I’ve been asked a lot:
Buy stock in several companies that make products & services that *you* believe in.
Only sell if you think their products & services are trending worse. Don’t panic when the market does.
This will serve you well in the long-term.
— Elon Musk (@elonmusk) May 1, 2022
But hilariously enough, Musk’s points flew right over the heads of many of these young, eager investors.
For instance, he told them to buy stocks in companies THEY believe in. Yet in response, they essentially asked him what stocks he believes in.
Which stock to invest?
— Jotirmoy26 (@jotirmoy26) May 1, 2022
What should i buy Now @elonmusk , can u suggest me?
— amit malhan (@_Amitmalhan) May 1, 2022
Sir what should i do i am 18 now and i also want to have some change can you please say in one word?
— Shivansh Garg (@AILYAILYTMD) May 1, 2022
What should I buy boss, lose 100k from crypto and stock the same time, tw??? Or tsl er? Or what is next?
— Winson (@Winson43862792) May 1, 2022
Elon, what companies make products that you admire?
— Edwin Dorsey (@StockJabber) May 1, 2022
Notice how one user referred to him as “boss.” But he’s not their boss or financial adviser. Technically, he’s just a rich guy on the Internet.
Many who responded to Musk’s tweet also referenced the cryptocurrency Dogecoin and the stock Tesla, both of which he has holdings in.
In fairness to this batch of users, the billionaire investor has been a loud proponent of Tesla, which he owns, and Dogecoin, which he frequently promotes.
And so these questions were at least understandable to some degree.
Look, but keep in mind the first guy may be trolling:
Elon I put all my life savings into Doge coin when it was at ¢70 and I’ve been holding since
I’ve had to take a 2nd mortgage out against my house, sell my car, and donate plasma to make ends meet
Do I continue the Hodl?
— KRNG – BearPig (@BearPigCentral) May 1, 2022
Should I start investing in Dodge coin?
— Jennis Gold (@PlanetOfSouls) May 1, 2022
What should I do with #dogecoin ?
— CyrilXBT (@cyrilXBT) May 1, 2022
Should I sell any Tesla?
— j_^^^^^^^ (@j_stonkerelli) May 1, 2022
so what was your reason to sell $TSLA shares?
— Bhavesh (@voldemortey) May 1, 2022
Therefore did you sell your TSLA stocks because their products and services were trending worse?
— CryptoLord (@crazygaul) May 1, 2022
So you just sold 20bn of $tsla stock in the last 9 months. What’s “trending” worse there we should know about?
— JP26 (@jpass26) May 1, 2022
Several users mentioned Musk selling shares in Tesla. This is true.
“Elon Musk sold roughly $8.4 billion worth of Tesla shares this week, following his bid to take Twitter private, according to filings with the Securities and Exchange Commission,” according to CNBC.
“The Tesla and SpaceX CEO offloaded about 4.4 million shares of his electric vehicle company in trades on Tuesday and Wednesday. New filings on Friday showed sales of an additional 5.2 million shares on Thursday.”
The timing strongly suggests he sold the shares solely to retrieve enough money to buy Twitter. But for some reason, many Twitter users suspect there was some ulterior reason for the sales.
No further TSLA sales planned after today
— Elon Musk (@elonmusk) April 29, 2022
Below are some additional questions that were posed to Musk:
Hello Musk, do you like French rap?
— Encore du rap (@EncoreDuRap) May 1, 2022
What about real estate, is it good investment?
— إياد الحمود (@Eyaaaad) May 1, 2022
I put money into AMC, and seeing it being manipulated and losing a lot of money. What do you think about AMC stock situation?
— Monica Montgomery (@MonicaDMM506303) May 1, 2022
If SpaceX goes public, should I ever buy the stock if it’s product or service is something I could personally never experience?
— AdiSidapara.eth (@adisidapara) May 1, 2022
this product I really believe in (it’s not tiny condoms) is destroying the market, but it’s sales are trending down during the pandemic. (not related to the amount of sex people r having, since these are not small condoms), Should I buy this stock I totally love or sell on trend?
— Mike Dupree (@MikeD197BB) May 1, 2022
Some of these folks may want to just invest in a financial adviser …
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