Soros did the same thing with the Bank of England. WHen he sold his shares of the bank, he would drive down the prince and then he bought them back at the lower price simultaneously.
No, he didn't. Soros shorted the British Pound; he was also was assessed a fine for insider trading in France. Musk is exercising options, as part of his compensation package. But nice try.
“Soros did the same thing with the Bank of England. WHen he sold his shares of the bank, he would drive down the prince and then he bought them back at the lower price simultaneously.”
That is not what the article describes Musk doing. He is buying shares at stock option prices. That is not affected by the market price going down.
The market price going down probably reduces the tax he pays on the option purchase.
No, this is normal stock options as work compensation/payment.
At some point they expire, so it’s normal to sell some existing stock, to pay for exercising the options.
If he doesn’t, they expire and he misses the chance to turn $6 into $1200. Option is for $6, shares are at $1200.
Nothing conspiratorial.