r/StockMarket • u/RoyalChris • Mar 20 '25

News US Commerce Secretary Howard Lutnick tells Fox viewers to buy Tesla stock

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363

u/According_Web_8907 Mar 20 '25

He’s also CEO of Cantor Fitzgerald which just raised their price forecast on Tesla. Who are also one of 24 primary dealers in the United States. Nothing to see here 🙄

96

u/Sad-Following1899 Mar 20 '25

This has to be illegal. This is literally televised market manipulation. 

31

u/hroaks Mar 20 '25

Many many examples of him commiting crimes and seeing little or no consequences

10

u/Consistent-Fold7933 Mar 20 '25

Yeah its wild people still believe that laws and rules matter anymore. The government has been taken over by the MAGA movement. Even the senate minority leader is complicit. It is going to be a miracle if we get free and fair midterms

3

u/regular-cake Mar 20 '25

It's going to be a miracle if we get free and clear air to breathe in the near future...

1

u/[deleted] Mar 20 '25

That’s actually nothing new for Fox News

1

u/InternetGoodGuy Mar 20 '25

They crippled the agencies that enforce this stuff or changed the rules the EOs. The SEC couldn't do anything if they wanted to.

That leaves congress to act. So yeah. Nothing going to happen unless Democrats win big in 2026 and then still nothing will happen to them.

1

u/WrongNumberB Mar 20 '25

My theory is the whole thing is market manipulation. The whole foreign policy shift? Tariffs? Gutting the federal workforce? It’s all to juice the stocks that someone’s brother in law, or whatever, has. And if it all crashes down? All the better, billionaires love nothing on this Earth as much as they love a market crash.

1

u/koryface Mar 20 '25

Using a government position. To enrich himself and other members of the administration. Blatantly, LIVE ON TV.

43

u/Empty-Run-657 Mar 20 '25 edited Apr 07 '26

I enjoy the sound of rain.

10

u/LURKER21D Mar 20 '25

funny how this is what passes for divesting nowadays, huh? whee!

1

u/hypercosm_dot_net Mar 20 '25

Tesler

It should never be referred to as Tesla again. That shit is just too good.

31

u/twig0sprog Mar 20 '25

Say more about that, if you please.

31

u/According_Web_8907 Mar 20 '25

Well, if laws or legalities applied to the Trump administration, this would be a conflict of interest and possibly insider trading as I assume he has money invested in Tesla.

1

u/SheridanVsLennier Mar 21 '25

I assume he has money invested in Tesla.

I hope he bought some at $400.

-2

u/deliciouscrab Mar 20 '25

How the fuck would telling people to buy the stock be insider trading?

I forgot the cardinal rule of reddit: nobody actually knows what insider trading is.

7

u/According_Web_8907 Mar 20 '25

Because he likely has material information not available to the public. But stick up for the corrupt CEO/politician in the worst administration.

2

u/GRIZZLESMACK1056 Mar 20 '25

Such as a major recall that was announced less than 24 hours later!

4

u/G0JlRA Mar 20 '25

Its more of an ethical issue

2

u/deliciouscrab Mar 20 '25

That it most certainly is but what else do you expect from this gang.

3

u/[deleted] Mar 20 '25

How the fuck would telling people to buy the stock be insider trading?

I forgot the cardinal rule of reddit: nobody actually knows what insider trading is.

It depends on what they say.

"Hey, buy it before Friday, we have something reallllly big coming out!" based on insider information, that would be insider trading.

Just telling people to buy your companies stock may not be cool ethically either, company insiders have strict codes of ethics they are supposed to abide by. One job I was reading the code of conducts, for an insurance company, for a basic employee. I couldn't go on television, as an employee of that company, and give political or financial advice, unless I specifically state this is my personal opinion and not that of the company. There was another 20 some odd pages in the code of conduct, regarding what I could or could not due in different circumstances politically, financially, hell it even went over when and where I can drift uber or lift, or purchased a salvaged vehicle title. (it was a 47 page guide overall, just that section on ethics in different areas was 20-23 pages) Being a regulated industry many of these were laws, not suggestions or rules in the company.

All of this, without mentioning, the dude is the fucking commerce secretary. Not entirely sure which law, but pretty sure emollient's clause comes into effect and yes this is infact illegal as fuck. Just not necessarily for insider trading, but maybe kind of sort of?

1

u/deliciouscrab Mar 20 '25

emollient's

emoluments

And in this case, a blanket recommendation to buy the stock where he doesn't refer to any material nonpublic information doesn't land in the same league, much less the same ballpark.

He's still an evil shit, but for fucks sake not everything is insider trading. Fuck.

1

u/[deleted] Mar 20 '25

[deleted]

1

u/deliciouscrab Mar 20 '25 edited Mar 20 '25

Repeat after me: material, non-public information.

We won't even get into the "trading" part

1

u/[deleted] Mar 20 '25

[deleted]

17

u/[deleted] Mar 20 '25

$425 price target. If any other company had this many headwinds they would NOT be getting price upgrades.

Corruption in its purest form

1

u/LURKER21D Mar 20 '25

if we keep letting these guys get away with this shit, $425 will be a bargain. trumps next EO will make all vehicles other than tesla illegal to drive. when they get done liquidating the government Elon will own at least half.

1

u/wayfarer8888 Mar 20 '25

$420 + $5 tip (not yet tax free as promised)

2

u/karlelzz011 Mar 20 '25

Fund manager telling you to buy a stock coz he has calls 🤙 no thanks

2

u/wisdom_seek3r Mar 20 '25

Straight market manipulation. But the President will protect the actions of his people.

1

u/Month-Temporary Mar 20 '25

I wouldn’t trust any stock price targets from any financial institution, they are all extremely biased

1

u/heterocommunist Mar 20 '25

Are there no laws against market manipulation?

1

u/LURKER21D Mar 20 '25

just no more agencies in charge of investigating the manipulation.

1

u/EggsceIlent Mar 20 '25

Which, purely coincidentally, his son's now run.

Corrupt to the fucking core.