Hey everybody Rob Mower here and today we were talking about the reaction to Tesla's Q1 earnings report as well as the news of the lower price the yesterday, Tesla did end up finishing the day down 2.3% to $781.88, so down almost $100 per share

from after hours trading yesterday.

And while the macro environment wasn't great with the New York Stock Exchange down 2%, the Dowd down 1%, S&P 500 on 1%, the NASDAQ was only down 0.3%, indicating some particular weakness for Tesla individually today.

There are always a lot of factors, oftentimes unknown factors contributing to the short-term

price movements, but my take on the price action today is that the one negative that we discussed yesterday and earnings recap, which was the unknown about production status.

I think that started to overtake more of the positive news that we heard yesterday.

As people digested, I think Elon's comments and started to understand that even he doesn't really know when Tesla is going to be able to restart production.

We did also have David Einhorn calling out Tesla again for accounts receivable today. I don't know why he's stuck on this matter.

Zach had mentioned on the earnings call that of the $154 million in regulatory credits that

Tesla sold in Q1 a lot of that had not yet been received in cash, so that falls

into accounts receivable as a significant contributor to the increase in that line.

So just like the last time Einhorn called out accounts receivable, it's not something that I'm concerned about.

We'll come back to the 10Q in a second because I've spent a lot of the day coming through that today.

But just to wrap up the stock price movement conversation.

To me, it is important when Tesla restarts production obviously, but the other fundamental things

that happened in Q1 are way, way more important to Tesla's long-term outlook than whether they restart production on May 4th or June 4th or July 4th.

So while I think uncertainty ruled the day today, I think that's completely short-sighted and ignores all of the amazing stuff that we talked

through in yesterday's episodes, specifically the margin performance, which again I cannot

over-emphasize the importance of. All right, so quickly back to Tesla's 10Q filing, so this is just their quarterly filing that they

file every quarter after reporting earnings and we just get a little bit more detail in this filing.

If you watched or listen to my earnings preview episode, you know that I forecast $140 million of regulatory credit sales for Tesla Q1.

The reason for that was because in their 10K filing, so their annual filing in February,

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