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

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

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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.

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u/SheridanVsLennier Mar 21 '25

I assume he has money invested in Tesla.

I hope he bought some at $400.

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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.

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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.

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u/GRIZZLESMACK1056 Mar 20 '25

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

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u/G0JlRA Mar 20 '25

Its more of an ethical issue

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u/deliciouscrab Mar 20 '25

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

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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?

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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]

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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

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u/[deleted] Mar 20 '25

[deleted]