April 8, 2026
Executive Summary This note presents evidence that Tesla’s (TSLA) share price has been significantly and systematically elevated over the past six years by an options market structure uniquely dependent on aggressive retail call buying —…
April 6, 2026
INVESTMENT SUMMARY GLJ Research reiterates its Four-Phase Iran Macro Playbook framework. As of April 6, 2026, Phase 1 is closed and Phase 2 is fully confirmed. The April 10 CPI print — the Six-Week Trigger…
April 3, 2026
Trumbull early completion drove F4Q headline OMs 18.2% to beat the Street at 12.7%, but management has been very clear that the outsized contribution of a single early close-out simply validates CCGT EPC unit economics…
April 2, 2026
Record Inventory Build, Energy Storage Collapse, and a Robotaxi Program Losing Its Engineering Leadership Ahead of Purported Launch Reinforce Our Sell Thesis GLJ Research View GLJ Research View Tesla’s 1Q26 delivery report is materially worse…
April 2, 2026
Bottom Line A channel check this morning between PV Magazine‘s head editor and GLJ Research, LLC surfaces two converging threats to incumbent residential solar installers: (1) rising interest rates are killing the high-pressure sales model, and (2) DIY “backyard solar” formats…
April 2, 2026
investment Conclusion February 2026 CSI data paints a bearish picture across virtually every metric we track — and introduces a new, critical data point that fundamentally alters the storage investment narrative: Tesla’s CA residential storage…
March 31, 2026
LME Metal Prices Mostly Higher Today vs. Previous Close: Today, Copper +0.94% to $5.57/lb; aluminum +0.94% to $1.62/lb; nickel -0.39% to $9.02/lb; zinc +0.66% to $1.55/lb; lead +0.35% to $1.08/lb; gold +3.70% to $4,678/oz; silver +7.22%…
March 31, 2026
Investment Thesis The March 20, 2026 Intex/Guggenheim ABS surveillance data (Ex. 4) — reviewed and confirmed through a proprietary channel discussion with a senior structured products professional — is the most important document in the…
March 30, 2026
We initiate on Modine Manufacturing at BUY with a Street-high $290 PT as the analyst community fails to give Modine credit for a NAM data center chillers capacity ramp that will drive accelerative trends at…
March 30, 2026
Investment Conclusion We reiterate our Sell rating and $24.86 12-month price target on Tesla (TSLA). Our final Q1 2026 delivery model — incorporating GLJ’s proprietary VIN-based US production channel check, CPCA/CNEVPost China production and delivery…
March 26, 2026
I. Investment Thesis We are maintaining our SELL rating on Sunrun (RUN) with an updated price target of $4.63, implying approximately 63% downside from current levels. Our conviction has strengthened following a direct channel check…
March 26, 2026
Investment Thesis GLJ Research conducted a structured expert channel check with a Chief Sales Officer at Krannich Solar — one of the largest solar equipment distributors in North America — to stress-test our below-consensus bear…
March 25, 2026
Investment Summary Twenty-five days after the US/Israel launched strikes against Iran on February 28, 2026, GLJ Research’s Four-Phase Iran Macro Playbook is tracking with near-precision fidelity. We are now at the inflection point of Phase…
March 23, 2026
Investment Summary Nearly four weeks into what GLJ Research assesses as a structurally durable Middle East conflict (i.e., the US/Israel launched their initial strikes against Iran 2/28/26), markets are materially mispricing both the duration and…
March 23, 2026
Investment Thesis (A.) The Event — The Anti-Involution Premium Is Gone. As of today’s close (March 23, 2026), the dominant polysilicon futures contract on the Guangzhou Futures Exchange settled at ¥35,435/MT, down ¥3,130 (-8.12%) on…