Matt Levine, Columnist

Tesla Has Some Wild Times

Also shorter workdays, Brookfield and Vanguard PE.

February 6, 2020 at 5:27 PM UTC

Matt Levine is a Bloomberg Opinion columnist. A former investment banker at Goldman Sachs, he was a mergers and acquisitions lawyer at Wachtell, Lipton, Rosen & Katz; a clerk for the U.S. Court of Appeals for the 3rd Circuit; and an editor of Dealbreaker.

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I feel bad that I have absolutely no idea what to tell you about what just happened with Tesla Inc., but the good news, for me, is that no one else has any idea either. Morgan Stanley, for instance, doesn’t:

Tesla’s stock finished January (that is, last Friday) at $650.57, up 55.5% from its December close of $418.33, which was itself up 26.8% from November. On Monday, the stock ripped up 19.9% to close at $780. On Tuesday, it got as high as $969 before falling over the last 12 minutes of the trading day and closing at $887.06. Yesterday it fell 17.2% to close at $734.70; it has remained pretty wild today, to the point that I am not going to risk typing a price here. Tesla’s 10-day realized volatility is 170.

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