Hello and

welcome to the Tuesday, March 3rd, 2020

of Tesla Daily Unofficial Tessa Podcast.

My name is Rob Maower. Today we are talking

about the new high price target on the street for Tesla stock, macro environment, and then

some news on China as well as the BMW I4. Tesla stock today had a strong open but did fall throughout the day

with the mackerel environment,

but did close in the green, finishing up a quarter percent

to $745.51 cents,

compared to the NASDAQ which fell throughout the day, down 3%.

That decline was despite the Federal Reserve announcing today that they will be cutting interest

rates by half a percent.

Remember I said yesterday the next Fed meeting wasn't until mid-March, so this early rate cut makes this an emergency rate cut,

the first time that we have seen that action since the 2008 recession, and it's also the largest rate cut since that same period generally

it's a quarter percentage point at a time but as we can see with the macro

environment the last two days wildly up on Monday down pretty significantly

today the move seems to have been expected since Monday based on the Goldman Sachs note that mentioned both of those things the half point cut and the early cut as strong possibilities.

About the cut, Fed Chairman Jerome Powell said, quote,

The virus and measures being taken to contain it will weigh on economic activity here and abroad for some time,

continuing with quote, a rate cut will not reduce the rate of infection.

It won't fix a broken supply chain. We get that, but we do believe that our action will provide a meaningful boost to the economy."

End quote. In Tesla's case, with the macro environment being tough, it wouldn't have been shocking to see the stock down 5 10% that seems to have been the case lately

...