JMP Securities analyst cut rating right before stock rallied (Source:Bloomberg).
I have nothing against the analysts , but as I always say : “Everything you need to know is already priced in and shows up in the price chart of the stock. YOU NEED TO TRADE WHAT YOU SEE, NOT WHAT YOU THINK IT SHOULD BE.”
The trend in Tesla (TSLA) has been UP since the end of October 2019, and although I understand that at these levels, traders/active investors might be looking to cash in a little on their positions, the undeniable fact is that the trend still remains UP no matter what the EBITDA multiple or valuation might be….
The trend is and remains your best friend.