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“Stonks”: US exchanges break recovery tendencies – Tesla boss Musk finds that laughing | message


• Stock markets collapse – negative trend continues
• Musk comments on a sharp drop in the share price

The recovery trends of the past few weeks on the stock exchanges came to an abrupt end last week after the US Federal Reserve painted a bleak picture for the economy. There was a massive drop in prices in just one day as investors threw their stocks into the market in bulk – since then the price has been heading south. In this situation, apparently only one laughed: Tesla boss Elon Musk.

Musk comments briefly and crisply on the sale

On June 11, Wall Street fell dramatically – the Fed’s bleak outlook caused the US benchmark Dow Jones to tumble 6.88 percent, while the Nasdaq Composite lost 5.27 percent that day. With such sharp price losses, investors need to be brave and keep their nerves if they don’t jump on the sell-off move themselves. And Tesla boss Elon Musk had to do one thing in particular in view of this happening: laughing out loud – as he announced on his favorite platform Twitter.

At first, this relationship seems far-fetched. But when you take a look at the comment fields, things become clearer: When another user asked what had happened, the billionaire replied just as succinctly: “Stonks”.

Herewith it becomes clear: The “LOL” applied to the current stock market events. Because Stonks are a deliberate misspelling for exchange-traded stocks. Most of the time, the word is even used in connection with humor or irony related to stocks or financial issues in general.

The head of the US electric car manufacturer still seems to be laughing at the slump in the course. After all, he only complained a few weeks ago that he thought the Tesla stock was too expensive – and it just recently hit a new all-time high when it first surpassed the $ 1,000 mark. The record was only reached a day before the sell-off on the US stock exchanges on June 10 at $ 1,027.36. The Silicon Valley Group’s paper is now hovering just above $ 900.

Only recently, Elon Musk again attracted more attention to himself and his special personality – and received both negative criticism and admiration for it, but he was also accused of showing childish behavior. Was he just spurring on his critics’ opinion with his recent reaction to the stock market? At least the freshly baked father did not explain what exactly he wanted to say with his tweet and whether this was possibly related to his statement regarding the Tesla share.

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Image sources: James Devaney / WireImage / Getty Images

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