Hello and welcome to the Wednesday February 5th

2020 edition of beginning because as a recording which is a little bit before market close we are

sitting down 20 percent. So starting off with the stock we do have some news here

from Gigafactory Shanghai and then also an analyst update but I think this is just a continuation of the sell-off

that we saw at the end of the day yesterday.

I think we're continuing to be in that zone

where we're trying to find a floor

and we're hitting these stop-loss orders orders and people are now feeling the fear of it being

overpriced versus the excitement of the rally.

We can't be too surprised about the volatility, especially given the run-up that we have had.

Yes, down 20% in a single day is a lot, but before the sell-off at the end of the day yesterday,

we were also up 20%.

So just as a reminder for some context,

at these current prices, even with this drop, we're still

up 12% for the week, which is still a pretty incredible week by itself.

So as I've been saying, who knows where it goes from here anybody's best guess.

1,000 wouldn't surprise me, 500 wouldn't surprise me.

I think we just need to find that floor and then once Tesla does that and people get comfortable

that that is a level that can be maintained, then that's when we can start to rise again.

But with the volatility, I think anybody's best guess again on what happens.

Anyway, just to touch quickly on the news that we have, we have CNBC reporting this morning that Tesla would be delaying deliveries from Gigafactory Shanghai and

production from Gigafactory Shanghai due to coronavirus. They were

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