Tesla's April Fool's Joke Spoofs Market Algorithms

Okian Warrior writes Yesterday, Tesla's twitter feed and blog announced the new "W" Model. Meaning "Watch" (as in "wristwatch"), the announcement Included a photo of a watch spouting a cumbersome "Big Ben" glued to the face and including this text: "This incredible new device from Tesla doesn't just tell the time, it also tells the date. What's more, it is infinitely adjustable, able to tell the time no matter where you are on Earth. Japan, Timbuktu, California, anywhere! This will change your life. Reality as you know it will never be the same." Clearly, this was an April fool's joke as anyone who reads more than just the headline would immediately guess. The problem is that Bloomberg's fast response team did not. The algos, on massive volume, spiked TSLA stock higher by nearly 1%.

Comments

You don't get how Wall Street works

[Aqualung812]

I hope these clowns bankrupt themselves one day with their stupidity.

No, based off what happened last time, they don't go bankrupt. They don't go to jail.

Everyone else's retirement funds take a huge hit and lose value, but assholes^H^H^H^H business leaders like this are too important to fail.