‘I really can’t explain it’


Tesla Chief Executive Office Elon Musk speaks at his company’s factory in Fremont, California.

Noah Berger | Reuters

Tesla’s rapid run higher, which has seen the shares gain nearly 400% this year, has left one notable investor confused.

“I really can’t explain Tesla,” Joel Greenblatt, co-CIO at Gotham Asset Management, said Monday on CNBC’s “Squawk Box.” “I think there’s a lot of speculation in the market and I think some of it’s there. I really can’t explain it.”

Part of Tesla’s share appreciation is due to the company reporting its fourth straight quarter of profits during its quarterly report on July 22, which qualifies the company for inclusion in the S&P 500, as well as…


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