Majority Saying “Yes” After Elon Musk Asks Twitter If He Should Sell 10% Of His Tesla Stock

Majority Saying “Yes” After Elon Musk Asks Twitter If He Should Sell 10% Of His Tesla Stock

In response to the latest wealth redistribution proposal espoused by America’s socialist party which was formerly known as the Democrats, the world’s richest man, Elon Musk, said that “much is made lately of unrealized gains being a means of tax avoidance”, and so he created a Twitter survey in which he asked if his 62.5 million followers support him selling 10% of his Tesla stock.

Much is made lately of unrealized gains being a means of tax avoidance, so I propose selling 10% of my Tesla stock.

Do you support this?

— Elon Musk (@elonmusk) November 6, 2021

The amount of stock in play is worth about $21 billion, based on Musk’s holdings of 170.5 million Tesla shares (the amount of stock Musk would sell is even greater if his options are included). The stock, which surged 74% this year on the back of one gamma squeeze after another, closed at $1,222.09 on Friday, just shy of an all time high.

Three hours later, with over 1.2 million responses, a majority of the respondents or 53%, said supported such a sale. Perhaps they are unaware that such a sale would tank TSLA stock – as it is equivalent to 80% of the average daily trading volume for Tesla in the past three months – sending it plunging. Furthermore, the signal that Musk would send by liquidating a portion of his holdings in response to socialist wealth redistribution would propagate like wildfire across the market and result in a broader market crash. On the other hand, for Musk – who would be delighted to be “forced” to dump a significant portion of TSLA shares at the highest price ever – a favorable outcome which he can then blame on Democrats, may be just what he desires even if it means next week we see a crash in the price of Tesla shares.

Note, I do not take a cash salary or bonus from anywhere. I only have stock, thus the only way for me to pay taxes personally is to sell stock.

— Elon Musk (@elonmusk) November 6, 2021

So for the sake of TSLA bulls, we hope they find a way to fill the gap and reverse the answer to the negative or else next week we will see a lot of OTM calls expiring worthless, especially after Musk said that he would “abide by the results of this poll, whichever way it goes.”

I will abide by the results of this poll, whichever way it goes

— Elon Musk (@elonmusk) November 6, 2021

Come to think of it, Musk’s ulterior motives notwithstanding, should the “Yays” have it and if TSLA stock plummets next week after the poll ends in 21 hours, the outcome would be an even clearer signal to Democrats that just in case last week’s catastrophic results in Virginia were not enough, getting a market crash in addition to everything else plaguing the US economy and society, would truly be the cherry on top that leads to a red avalanche next November, especially other billionaire CEOs follow in Musk’s footsteps in conducting a “Twitter test” on whether they too should send their stock freefalling.

“We are witnessing the Twitter masses deciding the outcome of a $25B coin flip,” venture capitalist Chamath Palihapitiya said in response to Musk’s tweet.

We are witnessing the Twitter masses deciding the outcome of a $25B coin flip. https://t.co/95M5StShPl

— Chamath Palihapitiya (@chamath) November 6, 2021

Saturday’s tweet is the second time within a week that Musk has discussed selling Tesla shares. As we reported last week, on Sunday, Musk challenged a United Nations official who said just a small percentage of the billionaire’s wealth could help solve world hunger. He wrote that he would sell Tesla stock if the World Food Program could describe the accounting on his Twitter thread.

And then there were the liberals, intent on confiscating redistributing the wealth of successful entrepreneurs, such as French economist Gabriel Zucman out of that socialist mecca the University of California at Berkeley, who tweeted that he was “looking forward to the day when the richest person in the world paying some tax does not depend on a Twitter poll.” For the sake of this country, we hope that day does not come.

Tyler Durden
Sat, 11/06/2021 – 18:53

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