Oh, you don’t like how the game is played? I suggest you read Confessions of a Wall Street Analyst to understand how it’s played.

Early this morning, we were entreated to a Goldman Ball Sachs upgrade of TSLA, affixed with a price target of $250. In the afternoon, we were doubly entreated to a massive secondary offering with Goldman listed as one of the underwriters.

Tesla is offering about $1.4 billion of shares with the remaining shares to be sold by Elon Musk to cover tax obligations associated with his concurrent exercise of more than 5.5 million stock options. On a net basis, Mr. Musk will increase his overall Tesla shareholdings through these transactions. Tesla intends to use the net proceeds from this offering to accelerate the ramp of Model 3. In connection with this offering, Elon Musk, Tesla’s CEO, will also be exercising stock options to acquire 5,503,972 shares of Tesla stock.

Chinese wall prohibits the two departments (investment banking and research) from communicating with one another, yadda, yadda, yadda. No one believes you.

Coincidence or corruption?

On a side note, God bless Elon Musk.

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