Hey everybody, we're out of malware here and today we're of course going to be discussing

the information's report on net new orders for Tesla in China during the month of May.

This report was published a couple of hours before market closed, this stock dropped

dramatically, and of course it was quickly picked up by other media outlets as well.

So we'll discuss my thoughts on that, then we also have a couple stories on recalls some

news from C-A-T-L expanding in China, an update on Gigaburlin and an update on the

Plaid Model S, as we await the delivery event one week from today.

Alright, so Tesla's stock today, starting off the day just fine, trading a little bit

below yesterday's closed but not too far in early morning trading, and then in the

afternoon we saw a report from the information, this was a couple of hours before market

closed and as this report came out, Tesla dropped sharply, about 3% in less than 10 minutes

and then continued to decline into close, finishing the day down 5.3% to $572.84, that

compared to the NASDAQ down 1% on the day.

So that report is where we will start, the headline for this piece is quote, Tesla's

China orders have in May, internal data shows, as crisis deepens, and quote, they go on

to write that quote, the company's monthly net orders in China dropped to about 9800

in May, from more than 18,000 in April, according to a person with knowledge of the data.

The sharp drop reflected a drastic shift in Chinese consumers appetite for Tesla, whose

founder Elon Musk has celebrity status there.

Order spiked in January after the release of the Model Y SUV, and then slowly eased

off before cratering last month.

In March, Tesla had 21,000 net orders.

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