Billionaire Elon Musk decided to share some stock advice early on Sunday morning.
The Tesla CEO secured a deal to buy Twitter for $44 billion dollars last Monday, after becoming its then-largest shareholder earlier in the month. It still remains to be seen what he plans to do with his new social media company, with many doubting that the deal will even go through.
But that hasn’t stopped Musk from tweeting up a storm in the past few days, even tweeting that he’s going to buy Coca-Cola to put the cocaine back in. But on Sunday, it seems he decided to take on the role of a financial advisor as he decided to deliver some advice to his millions of advisors.
Not All Followers Are Buying Into Elon Musk’s Stock Market Advice
On Sunday morning, Musk tweeted, “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.”
However, Musk recently had to drop a lot of Tesla stock in order to afford his Twitter purchase. According to CNN, Musk had to sell $8.5 billion dollars of Tesla’s shares three days after Twitter decided to sell him the company. He sold 3.7 million shares on Tuesday for $3.3 billion.
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On Wednesday, he sold 735,000 shares for $654 million. The transactions were filed with the Securities and Exchange Commission on Thursday. On Friday morning, Musk disclosed that he had sold an extra 5.2 million shares for $4.5 billion dollars.
Fans Call Out Elon Musk: ‘Bro You Just Sold Tesla Stock Last Week]
One user commented, “Bro you just sold $TSLA stock last week. You know very well that there are other reasons to sell stock besides products & services trending worse. Clarify that, before some idiot writes an article headlined: ‘ELON SELLS TESLA STOCK & SAYS ONLY SELL IF BUSINESS IS TRENDING WORSE.’”
Another user used Musk’s own advice against him, explaining that it’s the primary reason why he won’t invest in Musk’s electric car company. They tweeted, “That’s why I will never invest in Tesla… it’s going no where and pollutes the environment worse than any other company… did you know they were responsible for 6.4% of Americas greenhouse gases last year? No? That’s because the main stream media lies so Elon can become wealthier.”
Followers Take Aim At Dogecoin After Musk’s Stock Advice
One Twitch partner commented, “Elon I put all my life savings into Doge coin when it was at ¢70 and I’ve been holding since. I’ve had to take a 2nd mortgage out against my house, sell my car, and donate plasma to make ends meet. Do I continue the Hodl?”
Buy Dogecoin and several other cryptocurrencies that you believe in!
Only sell when you are ready to retire.
This will serve you well in the long-term.
— Matt Wallace (@MattWallace888) May 1, 2022
Another user also took aim at Dogecoin, tweeting, “Buy Dogecoin and several other cryptocurrencies that you believe in! Only sell when you are ready to retire. This will serve you well in the long-term.”