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