The Real Story Behind Tesla's Crazy Rally

<p><span style="font-weight: 400;">Today on the Brief:</span></p> <ul> <li style="font-weight: 400;"><span style="font-weight: 400;">Wall Street quarterly earnings season opens</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Investor flock to higher-yielding Chinese government bonds</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Bitcoin whales go down but other types of HODLers go up</span></li> </ul> <p><span style="font-weight: 400;">Our main conversation: What the hell is going on with $TSLA?</span></p> <p><span style="font-weight: 400;">Elon Musk is now richer than Warren Buffett. A year ago, Tesla wasn’t as valuable as Ford or GM. Now it’s more than 25% of the value of the auto market as a whole. </span></p> <p><span style="font-weight: 400;">In this episode, NLW looks at a set of possible explanations:</span></p> <ul> <li style="font-weight: 400;"><span style="font-weight: 400;">Elon as a Golden God/the cult of personality</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Tesla as an innovative tech company</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Better-than-expected vehicle delivery</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">The mother of all short squeezes</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Robinhood effect</span></li> <li style="font-weight: 400;"><span style="font-weight: 400;">Mr. FEDerico</span></li> <li style="font-weight: 400;"><span style= "font-weight: 400;">Narrative Market Machine</span></li> </ul> <p><span style="font-weight: 400;">In the end, NLW argues that in a world where 1) the new retail base is willing to engage in narrative and meme warfare and 2) where the Federal Reserve distorts prices, the narrative market machine becomes more of a driver of prices than ever before.</span></p>