Wall Street Cheated – Changed History
How far can analysts push the boundaries? This one was shameful
Analysts keep finding new ways to deceive the public and inflate their track records.
The latest example needs to be exposed because it involved alteration of a chart that was then republished on Barrons.com.
Here is an excerpt from Barron’s "Hot Research" segment dated Oct. 23, 2014. It quoted a Raymond James analyst who claims to have upgraded Tractor Supply Company (TSCO) on Oct. 23, 2014 at a price of $61.30.
TSCO did close at $61.30 as of 4 p.m. yesterday [Oct. 22, 2014] but surged much higher in after-hours trading that day following the announcement of much better than expected earnings.
Tractor Supply gapped up to $68 on the opening on Oct. 23. It never changed hands below $67.85 all day long.
How, then, was Raymond James able to take credit for its upgrade at $61.30 per share? Who produced the misdated and time-stamped chart that was sent to Barron’s for publication?
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Disclosure: None.
I'm going to have to call you eagle eyed Paul. Thanks for spotting this and exposing it to all.
Nice catch. If you look hard enough you will find lots o these types of actions as well as analysts hedging by stating bad news with good or good with bad and then being quoted on their right call which isn't really a call at all. Don't trust wall street. Keep a skeptical eye on them and on your money.