Shares of Tesla went on a tear yesterday morning before eventually paring their gains toward the end of the day and one "analyst", Global Equities Research's Trip Chowdhry, thinks he has an explanation for the stock's momentum: Elon Musk's dance moves.
Granted, we have been privy to heaps of bullsh*t the likes of which we never thought we'd see when listening to "analysts" draw up bull cases for Tesla over the last several years. Between Dan Ives and Cathie Wood alone, we have enough manure to fertilize our lawn and solve the Russia fertilizer problem.
But Chowdhry, who hasn't been heard from much over the last year or so, has gone full dance-tard and has offered up a whopper of an "analysis" that has us both laughing, and also exasperated and dejected about the state of what equity research has become.
For those not in the know, when Elon Musk opened Giga Berlin yesterday, he did this "dance", which looks closer to a grand mal seizure:
Musk also did the same dance when the Giga Factory in Shanghai opened:
Chowdhry noted that Tesla's stock was at about $115 at the time he did his Shanghai dance. That, according to Street Insider, had Chowdhry "asking if Tesla's stock can rise another 10x".
This inane and useless analysis spurred the headline: "Elon Musk's Latest Dance Moves Could Be Predictive of a Much Higher Price Target for Tesla". That headline confused market participants, to say the least:
Is this journalism?— EBITDUUUH (@EBITDUUUH) March 23, 2022
Wtf is going on.🤡
What in the actual fuck is this? https://t.co/BTOyjt9nca— Quoth the Raven 🇺🇦 (@QTRResearch) March 23, 2022
This is in a supposed wall street publication quoting a supposed wall street analyst.— Tom O'Maolfhabhail (@subrettt) March 23, 2022
Please wake me up.