After seeing Tesla’s stock price rocket on news of the stock split, Elon Musk announced Tesla will begin splitting their stock everyday. “We will be at a $10 trillion valuation in a month,” Musk tweeted. “To infinity and beyond!”
Since announcing the 5-1 stock split, Tesla has skyrocketed more than 70% in under 20 days. The goal of the stock split was to make shares more affordable for the average investor. But as anyone with a brain knows, the split will not change the valuation of the underlying business.
“We have increased our price target to $8,000 per share,” Wedbush stated in an analyst note. “We arrived at this price target by taking the current price and multiplying it by 17. Zero, and I mean zero fundamental analysis went into discovering the price target.”
In response to Elon’s tweet, Grimes stated, “I love you but please turn off ur phone or give me a dall. I cannot support hate. Please stop this. I know this isn’t your heart.”
In other news, a man had a heart attack after attempting to build a discounted cash flow model on Tesla. Robinhood investors cheered after finding out the man is expected to die.