I believe it's mostly just the charts, profit taking, and trading on the safe side ahead of shareholders meeting.
Thanks DM....I tried that link earlier... and all I got was a video commercial that was looping. Its over now obviously, but it should be archived somewhere...I'll try youtube. I wanna hear what Elon is filling the heads of his faithful acolytes with.
Here is a little write up: https://www.cnbc.com/2018/06/05/tesla-talks-shanghai-factory-at-shareholder-meeting.html And here is the whole thing:
It's the same old stuff - hypes about production numbers, schedule, adequate cash etc, as expected. CNBC's report on Tesla's future factory in Shanghai is not completely accurate (my understanding) w.r.t. tariffs, something levied on foreign imports. A wholly owned Tesla factory without Chinese partners will not be considered a domestic company and hence the cars produced will still be classified as foreign imports subject to tariffs, albeit reduced recently.
the factory will not be built unless the car can be sold in China with no tariffs..this is simple common sense. everything is so overly focused on model 3 (which did help push them to reach milestone ramps faster imo) that shorter's miss the the energy contribution..and most do not understand even how money is made via storage/solar.