News/Commentary

‘Since I’ve been asked a lot’: Elon Musk offers stock market advice, gets flooded with questions

May 1, 2022 | | Print Article

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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 hours, the tweet produced nearly 15,000 replies, many of them from young investors eager for advice.

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.

Look:

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:

 

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.

Below are some additional questions that were posed to Musk:

Some of these folks may want to just invest in a financial adviser …

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Vivek Saxena
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