Not sure what to make of Tesla Inc.’s wild start to 2020? You’re not alone.
The stock’s blistering 112% gain to start the year through Tuesday came without much in the way of a definitive explanation. So of course, with nowhere else to turn, people around the world looked to Google for answers.
In a sign of just how the electric car-maker’s manic rally was spreading FOMO across the globe, typing the phrase “should I” into a Google search returned “should I buy Tesla stock?” as the very first autocomplete prediction. It outranked more pressing concerns including “should I get the flu shot?” (yes, you probably should) and “should I quit my job?” (hey, the job market’s never been stronger, if not now, when?)
Google’s autocomplete predictions are based on real search trends as well as the user’s personal location and previous searches, according to a company blog post. While by no means a scientific measure of public opinion, they can provide a snapshot of what’s on the minds of the vast numbers of people behind the billions of queries submitted every day.
To see just how quickly that sentiment can turn, typing the same “should I” phrase Wednesday as the electric carmaker’s shares retreated as much as 16% produced two new recommendations: “should I sell Tesla stock?” and “should I short Tesla?”
So while analysts continue to struggle to account for exactly what sent Tesla stock soaring, perhaps one clue that the ride might be ending can be found in a simple Google search.
— Brandon Kochkodin (Bloomberg)
