Tesla (TSLA) surged 10% this morning, fueled by money from retail investors on President Trump, White House officials, and CEO Elon Musk pumping the stock.
It is sending Tesla’s price-to-earning ratio back up to record highs, which Musk warned could lead to the stock crashing “like a soufflé being smashed by a sledgehammer.”
JPMorgan said that data shows retail traders are pouring into Tesla’s stock, with $7.3 billion flowing in over the past two weeks.
It came after Tesla’s stock crashed 50% from its December high and several efforts to pump it back up.
First, it started with President Trump holding a Tesla infomercial at the White House. Then, the US…
