Tesla Stockholders Can't Take a Joke
It's curious that people on this thread are talking mostly of "dem stupid algorithms", while the part about the "securities fraud" seems much more interesting to me. It's easy to see that release makers tried as much as they can to make it obvious that it's a joke. Pretty stupid one, as whole this "tradition" of 01.04 is. But while Bloomberg guy obviously tries to justify Tesla, he is citing the definition that, in my opinion, shows that it is securities fraud. Because enough with this "hey, it's a joke" attitude, we have facts. Statement about "Tesla Model W" is untrue — a fact. Tesla gained from that — fact. "Reasonable" is very ambiguous word, and it is a shame that some judge can decide what is reasonable and what isn't, but I would say that an investor (and it doesn't mater if it's a human, a company or a machine) who makes money by investing on daily basis can be called reasonable as a matter of fact. And the likelihood of it altering the price turned to be substantial indeed, as we can judge by what happened. I think that "jokes" like that can and should be viewed as fraud, and it should be punished. After all it's not like serious shit doesn't happen on 1st of April.