Hey everybody, we're out of malware here and today we're going to be talking a little

bit about Tesla stock, which has hit 11 month lows today, also got updates on the broader

automotive market from both Volkswagen and Toyota, some new U.S. registration data, a revised

price target for Tesla from an analyst, updates on GigaShanghai, SolarRoof and quite a few

other things as well.

Alright, I know not the most exciting thing to look at, but Tesla today finishing down

6.9% to close at $628.16, significantly underperforming the NASDAQ, which was down 2.3%.

This is one of those days where you do have the NASDAQ finishing quite a bit lower than

the Dow, the Dow actually finished in the green today, and usually when that's happening,

that's a rotation out of tech or growth into more value-oriented stocks, so not surprising

to see a Tesla underperformance in that environment, but still pretty significant.

What seemed to kick this off and actually started yesterday after hours and has been

the common refrain today was an updated 8K filing from SNAP or SNAP chat, announcing

that since they had issued their guidance about a month ago, quote, the macroeconomic environment

has deteriorated further and faster than anticipated.

As a result, we believe it is likely that we will report revenue and adjust it even

up below the low end of our Q2 2022 guidance range, end quote.

So SNAP finished down 43% today, that dragged down a lot of tech.

Even Google today was down 5%.

So you might wonder the fair question of, okay, well, who really cares about Snapchat?

And especially so, why does that matter at all for Tesla very different markets here?

Personally, I don't think this is very important, but why the market is reacting to it broadly

...