As Twitter destroys its brand by renaming itself X, Mastodon user numbers are again soaring | TechCrunch - eviltoast

It’s not just lemmy that’s benefiting from Elon Musk.

  • Sludgehammer@lemmy.world
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    1 year ago

    IMO Mush was trying to run a simple pump and dump scheme with Twitter stock. You know, make some statements about ho he’s going to buy it at a massively inflated price, sell all the stock during the uptick and then suddenly find some issue with the sale and leave. However, during the “make some statements” phase he managed to make some legally binding statements and Twitter and their lawyers held him to them.

    So there’s no agenda or plan really, just a larger version of the Dogecoin pump and dumps that Mush has done in the past. It’s just this time rather than some crypto rubes he tried running it on a company with lots of lawyers and it blew up in his face.

    • appel@lemmy.ml
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      1 year ago

      Agreed, very plausible scenario. It played out that way as well, right up to the part where his lawyers told him “you legally can’t actually walk away from this deal”.