Serenity questions the logic behind Raymond James’ strong buy rating for SPCX, calling their research report “indefensible.”

Odaily reported that "White-haired Stock God" Serenity posted that Raymond James Financial is covering SPCX for the first time and has assigned it a "Strong Buy" rating, setting the target price at $800—a significant increase from the previous $160.

In response, Serenity said that this target price implies a SpaceX valuation of $10 trillion, stating he has "nothing more to say," and jokingly remarked that so-called "institutional research reports" aimed at retail investors are self-explanatory in their content.