Musk: Don’t Borrow Against Stocks (Like He’s Done)

Bloomberg News reports:

Billionaire Elon Musk is warning against something he himself has done — borrowing against the value of securities one owns — because of the risk of “mass panic” in the stock market.

“I would really advise people not to have margin debt in a volatile stock market and you know, from a cash standpoint, keep powder dry,” Musk said in the All-In podcast released Friday.

“You can get some pretty extreme things happening in a down market.”

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Billionaire Elon Musk has warned against margin debt, citing the risks of “mass panic” in the stock market as a possible recession looms https://t.co/bn9ScDtsuZ

— Bloomberg (@business) December 24, 2022