Hey everybody Rob Mower here and today we're mostly going to be talking about Tesla stock.

We have an updated note from

JP Morgan. They have increased their price target from $80 to $90

per share as I'm sure many of you have heard. So we will run through the

details on that note and even though we may not agree with the price target, I do always find that helpful

as a jumping off point for my thoughts, but that's actually not the most interesting part of the note.

They gave an update on their client's perspectives on the S&P 500 inclusion process for Tesla.

I thought was super interesting, so we'll go through that as well.

And then at the end, I do have a personal update on the status of my model 3 order.

First up, let's take a look at the stock though.

Tesla today finishing down 7% one of its few red days since the S&P announcement to 604.48 cents

that compared to the NasdDAQ down 1.9%.

And while obviously the degree of Tesla's movement was more extreme, if you adjust for

that, like the iPhone stock app is going to do, and then you overlay the two graphs, you can

see that directionally they moved pretty much in lockstep throughout the day.

I don't point that out to brush aside the negative day by any means, but oftentimes on days like this, I tend to get a lot more questions on,

oh my gosh, why is the stock down?

Or there will be people saying, look look the stock is down because of this

$90 price target from JP Morgan isn't that ridiculous and I just think oftentimes the macro impact is underappreciated and I think if you overlay these graphs that does demonstrate how impactful it can be

if you look at other companies that are you know high tech companies in the NASDAQ you'll see a lot of

similar graphs for those companies as well today the other thing I would add to that is obviously

the stock can't go up forever. Even in huge bull runs you're going to have red days.

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