Depending on where you are in the GameStop saga, where retailers are organized in this way to withdraw $ 6 billion from Wall Street overnight, you might think someone would take the fights away from Elon Musk or give him more.
Tesla CEO and Technocking were accused of “jet fuel” at GameStop short at a critical juncture by hedge fund manager David Einhorn, founder of Greenlight Capital, in a letter to investors released Thursday.
Einhorn said that Elon Musk and venture capitalist Shamat Palihabitiya were the real sources of short journalism, claiming that they both delivered “real aviation fuel” to the pump through their tweets and TV appearances.
Einhorn writes, “We note that the real aviation fuel at GME came from Chamat Palihapitiya and Elon Musk, appearing on TV and Twitter respectively destabilizing the situation at a critical moment.”
Amidst a brief orchestrated GameStop pressure by redditors at r / WallStreetBets, Elon Musk tweeted what someone interpreted as his support for the business. On January 26th, shortly after GME’s shares were pumping 91% in one day, Musk tweeted “Gamestonk !!” Accompanied by a link to Reddit WallStreetBet.
Over the next 24 hours, GME shares were up 134%, rising from a unit price of $ 147 to $ 347. The next 24 hours resulted in more fireworks, and by January 28, GameStop’s stock price had reached its peak. By $ 483, an increase of 18.693% over the previous nine-month share price.
Chamat Palihapitiya appeared to support the short press on Jan 27 when he told CNBC that the GameStop saga was an example of a man on the street fighting a man on Wall Street.
Einhorn said “quasi-chaos” prevails now, based on what he sees as toothless stock market regulation. Einhorn likened the situation when “[Elon Musk] laws” don’t work to dismiss the police.
“Many of those who will never support the Police Fund have supported – and all have succeeded – in neutralizing the organizers almost entirely, if not getting rid of the funding,” Einhorn said.
It has been suggested that Elon Musk has unreasonably influenced the cryptocurrency market by publicly supporting Bitcoin (BTC) and Dogecoin (DOGE) via Twitter. In February, legal experts suggested that Musk’s tweets could have acted as a catalyst for currency growth at the time, warning that such tweets could attract the attention of the SEC.
Musk laughed at the suggestion at the time, saying he would welcome any SEC investigation into his tweets and that he liked “dogs and memes.”