World's richest (or second-richest) person and inventor Elon Musk weighed in on the current controversy regarding the stock market on Thursday.
u can’t sell houses u don’t own
— Elon Musk (@elonmusk) January 28, 2021
u can’t sell cars u don’t own
but
u *can* sell stock u don’t own!?
this is bs – shorting is a scam
legal only for vestigial reasons
"u can’t sell houses u don’t own u can’t sell cars u don’t own but u *can* sell stock u don’t own!? this is bs – shorting is a scam legal only for vestigial reasons," Musk tweeted.
This is not the first time Musk has commented on the issue. On Tuesday, Musk criticized Discord for their role in censoring discussion on the topic.
The controversy centers around a group of indie investors who took on the hedge funds and won, buying up GameStop Stock as it was in the process of being shorted.
These industry "outsiders" coordinated the maneuver on the r/WallStreetBets subreddit, which has since been shut down and now reinstated. The Discord channel in question remains offline, and the ironically named "Robinhood" investment app has blocked independent investors from further actions with GameStop and two other stocks.
Major media outlets have been largely on the side of Wall Street and have claimed that something needs to be done.
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