High above me
She's so lovely
--Tal Bachman
Markets are currently obsessed with everything ESG (environmental-sustainability-governance). Fund managers proclaim that they will only own shares of companies with positive ESG profiles. That means buying everything green and selling everything black (as in crude).
Nothing exemplifies this mania more than Tesla (TSLA). The stock has quadrupled in the last 8 months and now sports a market cap (~$140B) greater than any car company save for Toyota--despite its tiny production levels.
The parabolic frolic is unmistakable and reminiscent of bubbles past. The stock, btw, is indicated another $100 higher pre-market this am.
no positions
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