Hey everybody, Rob Mauer here, and today we've got an updated note on Tesla from Goldman

Sex.

They have lowered their Tesla price target, we've also got updates on Tesla in China and

Berlin.

We'll talk about the FOMC meeting and a few other items as well.

Interesting day in the markets today, even before the FOMC meeting, which of course injected

volatility, and we'll talk about that in a second.

This morning, Tesla's starting off with a significant underperformance again, and another

high volume day, 140 million shares traded.

So like we had talked about yesterday, that combination seemed to be suggestive of maybe

a larger seller in the market.

And then interestingly, about an hour and a half into trading, Tesla started to recover

especially relative to the broader markets, maybe a sign that if there has been a larger

seller over the last couple of days, that perhaps at that point in time, that subsided.

Of course, then we head into the FOMC meeting, which of course immediately turns off the

focus and action in the market to that meeting.

So with the release, we did see a pretty sharp drop in the market, definitely not as

significant of a drop as we have seen on previous occasions, but a drop nonetheless,

Tesla following and pretty much tracking the volatility in the broader markets through

the end of the day, ending up down 2.6% with Nasdaq down 3.4% Tesla closing at $156.80.

So a lot going on there, very high volume, people of course still wondering if maybe this

is Elon selling.

...