Exhibit 43 (Dkt. 567-43, S.D. Fla.)
Summary
Exhibit 43 (Document 567-43) in Case 1:21-md-02989-CMA, entered on the FLSD docket June 7, 2023, is a three-page printout of a cnbc.com article by Jessica Bursztynsky, published January 26, 2021 at 5:00 PM EST and updated Wed, Jan 27 at 9:56 AM EST, headlined GameStop jumps as Elon Musk tweets out Reddit board that's hyping stock. The article reports that shares of GameStop were up more than 60% in after-hours trading after Tesla CEO Elon Musk tweeted Gamestonk!! with a link to the wallstreetbets Reddit page of more than 2 million subscribers, that the stock had closed up 92.7% on Tuesday, and that Social Capital's Chamath Palihapitiya had tweeted that he bought GameStop call options. It adds that Musk's call-outs have moved stock prices before and that the SEC declined to comment.
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- Date
- 2023-06-07
Cite this document
“Exhibit 43 (Dkt. 567-43).”
Original at archive.org, dated 2023-06-07. Archived at Pandemic Darlings, https://pandemicdarlings.com/source-documents/2023-06-07-covid-era-misc-1a7eef68-1/
, SHA-256 1a7eef68e9de4d2854ca1ba6705374270ca4cf6334e6a86b6efee830651c6318.Full text
Case 1:21-md-02989-CMA Document 567-43 Entered on FLSD Docket 06/07/2023 Page 1 of 3
Exhibit 43
Case 1:21-md-02989-CMA Document 567-43 Entered on FLSD Docket 06/07/2023 Page 2 of 3
GameStop jumps as Elon Musk tweets out Reddit board
that's hyping stock
cnbc.com/2021/01/26/gamestop-jumps-as-elon-musk-tweets-out-reddit-board-thats-hyping-stock.html
Jessica Bursztynsky January 26, 2021
Tech
GameStop jumps after hours as Elon Musk tweets out Reddit board
that's hyping stock
Published Tue, Jan 26 20215:00 PM ESTUpdated Wed, Jan 27 20219:56 AM EST
Jessica Bursztynsky@jbursz
WATCH LIVE
Key Points
Tesla CEO Elon Musk seemed to rally behind GameStop's epic surge, tweeting out a
link to the Reddit board that's largely hyped the stock.
Shares of GameStop were up more than 60% in after-hours trading following Musk's
tweet, which linked to the "wallstreetbets" Reddit page that has more than 2 million
subscribers.
The Tesla CEO tweeted "Gamestonk!!"
The stock had closed up 92.7% on Tuesday.
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Case 1:21-md-02989-CMA Document 567-43 Entered on FLSD Docket 06/07/2023 Page 3 of 3
watch now
VIDEO0:0000:00
Retail investors drive GameStop's explosive rise despite fundamentals
Stock Picks
Tesla CEO Elon Musk seemed to rally behind GameStop's epic surge, tweeting out a link to
the Reddit board that's largely hyped the stock.
Shares of GameStop were up more than 60% in after-hours trading on Tuesday following
Musk's tweet, which linked to the "wallstreetbets" Reddit page that has more than 2 million
subscribers. The Tesla CEO tweeted "Gamestonk!!"
The stock surged earlier in the day after Social Capital's Chamath Palihapitiya said in a tweet
that he bought GameStop call options, betting the stock will go higher. The stock closed up
92.7% on Tuesday.
Musk's call-outs to certain companies have influenced stock prices before. Earlier Tuesday,
he tweeted about a hand-knit wool hat he bought for his dog on Etsy. That sent shares of the
company up as much as 8% in premarket trading, though it ultimately closed down 2.1%.
The CEO has faced problems with the SEC for tweeting about Tesla's stock. In August 2018,
he said he wanted to take Tesla private at $420 per share and that he had secured the
funding to do so. Musk and Tesla each had to pay the SEC a $20 million fine to settle the
suit, and Musk has since agreed to submit his public statements about Tesla's finances and
other topics to vetting by its legal counsel. He infamously tweeted last year that Tesla's stock
was "too high," sending shares down more than 10% immediately, though they more than
rebounded within a week.
The SEC declined to comment.
— CNBC's Lora Kolodny contributed to this report.
Subscribe to CNBC on YouTube.
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Invest in You: Ready. Set. Grow.
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- gov.uscourts.flsd.590042.567.43.pdf
- Size
- 207,944 bytes
- SHA-256
- 1a7eef68e9de4d2854ca1ba6705374270ca4cf6334e6a86b6efee830651c6318
- Original
- archive.org