Elon Musk, what can’t he do? He launches a rocket to Mars, makes Robinhood angry, and the wealthy too. Many of us know that Elon Musk is one that likes to push the bar, stir up trouble, and surprise people with his outlandish behavior.
Musk likes to push the limits testing out his latest prototype spacecraft into the sky. On December 9, 2020, SpaceX successfully was launched then burst into flames after crashing back down. There have been multiple tests like this for SpaceX. The latest test flight went smooth with SpaceX’s 9. It was able to reach the 6.2-mile apogee, and the descent looked good from beginning to descent.
Musk: Friend or Foe?
No matter how you feel about him, he keeps people on their toes. From tweeting out random tweets from “use Signal,” to “I kinda love Esty.” For those that don’t know Signal is an app that is similar to Facebook Messenger, iMessage, and WhatsApp but is geared toward privacy and security. With Elon Musk influencing his followers to “use Signal” there was a 1,100% surge in an unrelated stock with a similar name. This error sent shares of this stock from 60 cents to $7.19, that’s an increase of over 527%.
Robinhood CEO Restricted Musk from Trading Last Week
Is it no good deed goes unpunished, or is it just another day for Musk? On Thursday Robinhood restricted the trading of some stocks like GameStop and AMC Entertainment. When the WallStreetBets invested in GameStop some Hedge funds had huge losses because of the increase in the shares. Robinhood’s co-CEO Vlad Tenev, said to protect the firm and its customers they had to put holds on the buying of stocks. Musk pressed Tenev for an answer of why a platform pioneer of commission-free trading decided to restrict trading. Tenev stated that they had no choice and had to conform to regulatory capital requirements. Robinhood is continuing to limit trading on Monday. Customers can buy only one share and fixed option contracts. The good news for traders is that Robinhood cut down the restricted trading list from 50 to eight.
Elon and Doge
It all started when Elon Musk shared a picture of a rocket to the moon and followed it up with a one-word tweet: Doge.
Elon Musk broke his Twitter silence with tweets on Dogecoin.
Elon Musk is back on Twitter less than two days after he announced he would be taking a break from the microblogging platform. The Tesla CEO broke his self-imposed Twitter silence with a series of tweets this morning praising Dogecoin – the meme-based cryptocurrency which was initially started as a joke. As the value of Dogecoin surged, Mr Musk, in his trademark style, ‘welcomed’ investors with a meme. The tweet was enough to send the value of Dogecoin surging by over 44 percent, reports Market Watch.
So in closing, it’s up to you to decide Friend or Foe?