Bob Toll Does Not Front Run JP Morgan

Tyler Durden's picture

Yesterday Bob Toll sells 1.6 million shares of TOL. Today JP Morgan upgrades the stock, raising its recommendation from Neutral to Overweight, and stock price from $17 to $29.

What are the possible conclusions:

  1. Bob Toll is a hopeless fool who knows nothing about his company's business prospects (unlikely)
  2. Bob Toll does not have access to the JPM research reports "huddle" (likely)
  3. A Rorschach test of JP Morgan analyst Michael Rehaut using the picture below reveals an answer of "a diamond in the rough" (near certainty)