Hey, Rob Bower here and today we're going to be talking a little bit about some of the action in Tesla stock today.

We've also got updates on

Tesla's Highland Model 3, some news on international expansion, and a few other

items as well. So clearly a tough day for the stock today down about 5.5% closing at $210.50. The NASDAQ down just

under 1% on the day, so significant underperformance from Tesla. I do have other

automakers pulled up here for GM, Rivian Lucid.

As we can see, a pretty tough day for automakers in general,

Tesla in the blue here.

And you can see the performance on the day for others.

So we do seem to have a bit of sector rotation

happening as well in addition to the broader markets being down.

But clearly Tesla still underperforming even within that group a little bit.

We can see even started off a little bit rougher recovering

throughout the day but overall definitely a tougher day for Tesla probably

contributed to by initiation of coverage of Tesla's talk by.S.B.C. This is the biggest bank by assets or yeah by

assets in Europe or in the UK. I would have to double check on that one, but pretty significant bank, so their analyst has today initiated coverage of Tesla with a $146 price target and a sell rating on the stock.

So an initiation of coverage tends to be a little bit bigger of a deal

than maybe a normal analyst note. You kind of have price-target adjustments as the lowest level of

updates, then you have rating adjustments as maybe the middle, and then initiation

probably right alongside that, maybe a little bit more consequence from that.

So it is relatively impactful, I would say say probably contributing at the drop today.

We'll go through a little bit of the details of the note but this was about a hundred page note

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