Multi-trillion-dollar stock market swings on Monday appear to have been set off by false reports on Elon Musk’s X. Experts say the episode highlights the social media site’s enduring relevance, even as it helps amplify falsehoods.

How did it happen?

  • Ulrich@feddit.org
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    4 days ago

    Great, so you shouldn’t have any problem explaining exactly what they did?

            • KeenFlame@feddit.nu
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              11 hours ago

              We are on the topic of market manipulation. Hedge fund sociopaths have this as their job. They generate value by managing the richest families’ fortune and use the leverage to find loopholes and scemes to compete with each other. Most happens at the microsecond level between robots hosted on prime real estate meters from the transactions made at Dow to reduce the already vanishingly miniscule delay that cable and switch hops can add to the rapid fire buy and sell patterns used to defuse or lure the other bots. Into these spinning wheels they parcel all actual buy and sells from the retail investors app and use as ammunition. The strategy for the Frat boys is not at this quantum level. They organize schemes. Different types of scams to trick money from anyone stupid enough to fall for it. Afterwards, when they are fined (several daily) for every transgressions, and it’s a lot cheaper than what they made. By orders of magnitude. So they are never accountable and can be open about their operations. If this was one such we will soon see who made what, since after a set amount of days they have to disclose their positions. Then they congratulate each other on who made most. Hope it helps.

              Also, I might add that your hostile manner is honestly funny to observe but remember that it shortens your lifespan. It won’t mean much at your age but at some point, you will probably come to enjoy life and rue your angry years that turned your liver into a nesting doll and mind into a perforated pachinko course of irritability

              • Ulrich@feddit.org
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                6 hours ago

                You’re giving a lot of generic explanations instead of anything that applies to this specific scenario.

                your hostile manner is honestly funny to observe

                I wasn’t being hostile at all.