iBankCoin
18 years in Wall Street, left after finding out it was all horseshit. Founder/ Master and Commander: iBankCoin, finance news and commentary from the future.
Joined Nov 10, 2007
19,347 Blog Posts

Reminder: Wedbush Isn’t a Real Brokerage Firm

IMPORTANT NOTE OUT BY WEDBUSH THIS MORNING REGARDING TESLA.

WEDBUSH: “in our 20 years of covering tech stocks on the Street we view this quarter as one of top debacles we have ever seen while Musk & Co. in an episode out of the Twilight Zone act as if demand and profitability will magically return to the $TSLA story. We are throwing in the white towel on the name as we downgrade our rating .. reflecting our reduced numbers for the coming years and our loss of confidence in the story with no pilot on the plane to navigate through this severe demand turbulence.”

Cuts to neutral.

Overly dramatic horseshit and I’d like to remind people in the business that Wedbush isn’t a real firm and is a joke and the analysts who work there aren’t intelligent and their executives are giant faggots pretending to be relevant.

Case in point: TSLA is basically unchanged.

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2 comments

  1. og

    Ah yes Wedbush, the guys that were bearish NFLX under $100 pre-split and never changed their mind. Patcher is the worst.

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    • numbersgame

      They made the same mistake as I did: trying to price stocks based on their fair value, isntead of what the average investor thinks their fair value should be (with the understanding that 95+% of investors never look at financial statements).

      I still think NFLX will drop below $200. It will probbaly be around mid- to late-2020 – a year after Disney starts kicking their @$$ and APPL, COmcast, NBC, etc come to VOD

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