Hello and welcome to the Monday May 20th 2019 edition of Tesla Daily on

official Tesla Podcast.

My name is Rob Maower.

Today we are talking about an email from Elon

to employees that came out on Friday

in regards to Tesla's cash management related to expenses.

Tesla stock on the day today did finish down 2.69% to $205.36.

This compared to the NASDAQ, which also had a rough day down 1.46%. I think we've talked a lot about the stock price and a lot of the

reasons for the bearishness in the short term. So I'll spare some of my thoughts on that, but I think

a lot of it is being driven by the email from Elon on Friday so we'll talk

about that today. The other news that I think had a negative impact on the stock today

was Wedbush analyst Dan Ives lowering his price target for Tesla from $275 per share to $230 per share.

I think this one is particularly impactful because as recently as a couple of months ago,

I've had a $365 price target on Tesla as well as a buy rating, so it's not like this is

Golden and Sachs cutting their price target for the hundredth time or anything like that.

In the note, Ives wrote, quote, with the Code Red situation at Tesla,

Musk and Co are expanding into insurance, robot taxis, and other sci-fi projects

slash endeavors when the company instead should be laser focused on shoring up core demand for model three and simplifying its business model and expense structure."

So perfect example of what we've been talking about until there is clarity on demand and what the level of sustained demand is and how profitable that level of demand can be for Tesla.

None of these other humorously called quote-unquote sci-fi projects are going to be included in

Tesla's valuation.

The next driver of some of the negativity today, I think aside from the macro environment obviously,

...