Saturday, January 30, 2021
Elon Musk takes on Dem’s Wall Street, & suddenly DoJ probes his SpaceX
Retail investors are taking short sellers to the cleaners at least for now, and Elon Musk is enjoying it all. As he’s enjoying it, suddenly, we find out the DoJ is probing SpaceX.
The Tesla CEO has been sparring with Wall Street bears for years. This week, he has leveraged Twitter TWTR -2.02% to help fuel the populist frenzy over GameStop Corp. GME 67.87% and other companies to stick it to the short sellers once more, the Wall Street Journal reported.
“Here come the shorty apologists. Give them no respect. Get Shorty,” Mr. Musk tweeted Thursday to his more than 40 million followers.
On Wednesday, GameStop shares more than doubled after Mr. Musk tweeted “Gamestonk!!” the previous afternoon, linking to the popular Reddit forum WallStreetBets. Stonk is a play on the word “stock.”
THEN CAME THE FEDS
Coincidentally, today, we learn that the Department of Justice is investigating Elon Musk’s SpaceX after it was accused of discriminating against non-U.S. citizens in its hiring process.
Court documents reveal that a non-U.S. citizen filed a complaint at the DOJ’s Immigrant and Employee Rights (IER) division alleging that Musk’s aerospace company discriminated against him based on his citizenship status, CNBC reported.
One non-US citizen? And that brings in the Feds who can’t find a coup whipping around them?
Is he illegal?
“The charge alleges that on or about March 10, 2020, during the Charging Party’s interview for the position of Technology Strategy Associate, SpaceX made inquiries about his citizenship status and ultimately failed to hire him for the position because he...
REPORT: Google Deleted Nearly 100,000 Negative Ratings From Robinhood
Google reportedly deleted nearly 100,000 negative reviews from the investment app Robinhood on the Google Play store Thursday.
Google confirmed to The Verge that they removed the bad reviews, which were enough to bring the total star rating down to one star. A screenshot posted by the outlet showed Robinhood with nearly 275,000 reviews and a one-star rating, then another screenshot later Thursday showed the app with about 180,000 reviews and a four-star rating.
The company “combines human intelligence with machine learning to detect and enforce policy violations in ratings and reviews,” it told The Verge. Robinhood does not have the ability to delete reviews themselves, and Google deleted reviews that were in violation of its policies, the company said.
The influx of negative reviews came after Robinhood halted the ability to buy stocks in Gamestop and other companies Thursday morning. Hedge funds and Wall Street executives had heavily shorted Gamestop – meaning that they bet that the stock would go down – because they believed the company would have trouble adapting to digital video games. Users on the Reddit page WallStreetBets discovered that the stock had been widely shorted and were able to increase the price of the stock by over 600%, costing the hedge funds billions.
Robinhood is now facing a class-action lawsuit from investors who say that halting the purchase of some stocks put them at an unfair disadvantage and violated the...
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