Story stock/bond

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Story stock/bond

A highly complex security that requires a long "story" so that investors may understand the corporation and be persuaded of its merits.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Story Stock/Bond

1. A stock or bond with highly unusual characteristics that are often difficult to understand. Investors are usually hesitant to invest in stocks or bonds (or other securities) that they do not understand; thus, representatives of the issuer or the underwriters must explain the stock's or bond's features in such a way as to convince the investor to buy it. The term comes from the fact that having the stock or bond explained can feel like having a story told to the investor.

2. Especially for stocks, a security with a price or value that is highly dependent on positive press coverage.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
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This is a story stock, and the story is apparently still compelling enough to keep the rally going.
The company remains a story stock with a history of losses whose high valuation relative to other major auto makers has rested on investor confidence in the volatile and charismatic Musk, the publication added, noting that the executive's role at Tesla is uncertain now that SEC is seeking to bar him from serving as an officer and director of a public company.
This constant change means that there's always another story (and another story stock), and there's always another place for hope to do its eternal springing.