Tesla Gains Market Cap Because Everyone Is Stupid

Originally published on TeslaMondo.

First — Autocar writes an article consisting entirely of stale crumbs about Tesla’s plans to build a small crossover based on the new Model III platform. It throws in a Model Y rendering that looks like a Porsche Macan. Neither the rendering nor the article deserves a single minute of attention.

Then — Claudia Assis from MarketWatch, who has covered Tesla long enough to know better, pretends the Autocar article is some sort of confirmation that Model Y is coming next year. She writes her own rehash of the source piece, and an editor slaps on a nifty headline about Model Y coming next year. So today we were served two hamburgers containing 100% Hamburger Helper.

And yet — TSLA jumps a few percentage points on the mere mention of an inexpensive crossover, so hot is the segment and so ignorant is the layman investor about Tesla’s long-discussed master plan.

Result — Tesla gains market cap because everyone is stupid. Anton Wahlman, a bumbling TSLA short who would happily write about Elon Musk kicking his cat if he could just get a good hidden video, figured out that today’s TSLA bump hasn’t a toe in reality, assuming the bump came from Model Y speculation. The day has finally come when Wahlman made a non-absurd observation.

Reprinted with permission.