Same owner, pretty simple.
“If you help my X then your T goes up in value”
Comment on Texas judge who bought Tesla stock won’t recuse himself from X v. Media Matters
EatATaco@lemm.ee 2 months ago
Can someone explain the conflict they see here? X and Tesla are 2 different companies.
BambiDiego@lemmy.world 2 months ago
EatATaco@lemm.ee 2 months ago
If you can show me some strong correlation between x and Tesla stock, that doesn’t also correlate with the market as a whole, it would go a long way to proving that point. Other than that, it’s just speculation that it might influence the price of his own stock, which seems like an extremely tenuous claim as to why it’s reasonable to believe he should recuse himself.
BambiDiego@lemmy.world 2 months ago
Elon’s companies have had financial trends that ebb and flow with the whims of the influence of their owner, intended and otherwise, the correlation is:
They have the same owner.
Doomsider@lemmy.world 2 months ago
Let me get this straight, just because they could stand to gain financially does not mean they should recuse themselves. Furthermore we have to prove beyond a shadow of a doubt decision X results is Y extra money to satisfy you.
If you move the goalpost past Jupiter I guess there is no corruption at all. Keep moving along nothing to see here…
Ilovethebomb@lemm.ee 2 months ago
That is a pretty ridiculous response, frankly. If you’re saying this judge should step aside, you should be able to back that statement up with at least some evidence.
Kalysta@lemm.ee 2 months ago
A couple years ago Musk made a tweet and tanked tesla’s stock with it.
Ilovethebomb@lemm.ee 2 months ago
Does it though?
Khanzarate@lemmy.world 2 months ago
The issue here is because they’re linked by the owner. If one stock goes up/down, the other does too. This has happened repeatedly with these two companies specifically, even.
So although they don’t own stock in the company in question, they still have a stock in seeing it succeed. Its success will bring about their own financial gain.
The fact that this issue was voiced and they specifically took the action that raises questions about authenticity also means we must question if that’s even the goal. If this went to a different judge, after all, one with no bias, then if this judge is unbiased, he should expect the same outcome. Of course, if he were biased and intended to give a biased ruling to take advantage of the chance to directly increase his wealth, then we’d expect him to be reluctant to let another judge rule on it. He could miss his financial opportunity, after all.
Ilovethebomb@lemm.ee 2 months ago
This is a very tenuous connection, especially considering the relatively small amount of money involved.
It’s far more likely the judge just doesn’t consider the two companies to be closely linked enough to be an issue.
Crikeste@lemm.ee 2 months ago
Also, it says the judge bought in 2022, and the price today is pretty much equivalent to the LOWEST point of 2022. So it’s not like it has performed well for him. But I don’t know shit about stocks. Just wanted to point that out.
And while $35,000 is a pretty big investment, at least to an average person, would that amount of money be persuasive enough to convince a judge to do what this one is doing?
EatATaco@lemm.ee 2 months ago
If one stock goes up/down, the other does too. This has happened repeatedly with these two companies specifically, even.
This should be easy to prove that their correlation to one another is significantly more than to the market, or maybe more accurately to tech stocks as a whole. do you have these numbers or is it just speculation?
The other poster makes a much stronger argument, pointing out how some investors in Tesla are concerned about musk having to sell stock to support x, which could lead to a fall in x prices.
418_im_a_teapot@sh.itjust.works 2 months ago
Why do people downvote others who are just asking questions? I’ll never understand the mindset. You ask an honest and genuine question and people just downvote it for no reason. I don’t get it.
BradleyUffner@lemmy.world 2 months ago
Because disingenuously asking loaded questions (not saying this is one) has become a favorite tactic of conservatives and other trolls. It’s so common now that people automatically assume the questioner is acting in bad faith.
jabjoe@feddit.uk 2 months ago
As a Brit, we just had riots due to a rightwing posh dickhead “just asking questions”. Look for “Farage riots”.
Some questions aren’t questions but dog whistles and conspiracy theories.
Of course owning stock in one Elon company compromises you judging another Elon company. You don’t even have to look hard to see how he leverages one for another. Or could if he hadn’t already. Not seeing it is done willfully.
EatATaco@lemm.ee 2 months ago
I’m sure it’s a bunch of things, but people are so used to rushing to conclusions without giving it some real thought, myself included, that when someone doesn’t immediately take a side…well, they must be taking the opposite side as me.
Ilovethebomb@lemm.ee 2 months ago
How dare you interrupt the circle jerk.
kn0wmad1c@programming.dev 2 months ago
Pretty easy link here: fortune.com/…/elon-musk-tesla-stock-sale-twitter-…
archive link
EatATaco@lemm.ee 2 months ago
A strong point for sure, thank you.