Hello and welcome to the Thursday June 20th

2019 edition of Tesla Daily on Official Tesla Podcast.

My name is Rob Maower.

Today we are talking about another Goldman Sachs analyst downgrade for Tesla,

as well as a partnership announcement from Weimo, Renault, and Nissan.

Tesla stock on the heels of the downgrade today

did finish down 3.01% to $219.62,

otherwise a pretty strong macro day today

with the Nasdaq up 0.80%.

As we have seen many times before, Goldman Sachs again downgraded Tesla today to a new 12-month

price target of $158 per share versus the previous price target of $200 per share.

There's nothing to earth-shattering in the note.

The price target is primarily a construct of Goldman Sachs concerns on demand.

I've been saying for quite a while prior to the shareholder meeting

that demand was the biggest concern for investors.

I think Elon did a lot to address that during the shareholder meeting.

Nonetheless, Goldman does still remain concerned on that, saying,

quote, we believe second quarter 2019 was a better environment for demand and thus deliveries,

but to a level that is likely not sustainable.

We believe that this is the largest question for investors

to underwrite at this point.

What are sustainable demand levels for the model S, model X, and model 3,

...