Bill Maurer, a cultural anthropologist, [professor and social sciences dean] from UC Irvine, pointed out that the conditions that allowed Musk to rise as a stock celebrity are the same ones that also favor spammers. "The kind of broad decline in trust in institutions in the conventional guardians and gatekeepers of finance gives people like Elon Musk this attention from investors in the market … [It's] the amplification of non-traditional sources of financial knowledge," Maurer said. "You have a whole army of bots that can create that same explosion."

For the full story, please visit https://markets.businessinsider.com/news/stocks/stock-bear-market-rout-celebrities-influencers-tiktok-elon-musk-spam-2022-9.