What a ride

[The beef 675] [I'm an image] “I would kill to have gotten in at Tesla for $420.” - Jeff Hey there carnivores, Markets were all over the place on Monday. Thanks, Cali. Today we’re talking about what exactly happened. Keep raging, Jeff & Jason [Image] [I'm an image] Off their rocker Go home markets, you're drunk. Stocks were up for most of the day yesterday, continuing their rally from last week despite increased coronavirus cases throughout the country. But we all know that all good things must come to an end... California [announced that it is scaling back]( its plans to re-open as coronavirus cases continue to climb (again) in the Golden State. And that’s when all hell broke loose. Not chill California. Not chill at all. The Dow gave up a 500 plus point gain following the news and finished up just 10 points. After briefly turning positive for the year the S&P finished down nearly 1% on the day. "Well, at least the Nasdaq rose... right?" - every investor ever Think again. The tech-heavy index took a beating, falling more than 2%. Thanks, TSLA. Roller coaster ride But no company experienced the wild volatility of yesterday’s market first-hand quite like Tesla. The EV maker started out the day doing what it does best... [gaining]( more than 16%, continuing its rally after a big Friday. But it didn’t last. Shares finished down 3% on the day. The news out of Cali certainly didn't help (let's not forget what happened during CA's last [shutdown]() but TSLA's wild ride can probably (read: definitely) be attributed to the fact that day traders have been pouring money into Tesla. Exhibit A: according to Robinhood 40k of its users purchased TSLA during a four hour period on Monday. Still not convinced that speculators are piling into Tesla? A staggering 457k people own Tesla’s shares compared to 358k who own Amazon. The bottom line... Do you smell that? It's earnings szn. Rumor has it that Lonnie EV is about to drop a fourth straight quarter of GAAP profits next week. Which means that the company would become eligible for inclusion in the S&P 500. And at least one conspiracy theorist with a brokerage account thinks this could be the reason for TSLA's recent run-up. [Hear him out](... Investors may be "bidding up" the stock in hopes that TSLA gets the nod to join the S&P 500. If this were to happen ETFs that track the index would be forced to scoop up TSLA shares. Then all the "smart" money can bail leaving the investment funds holding the bag. Power. Moves. Only. [Image] Kyle Dennis Has Made Over $1.5M In Trading Profits The Last 3 Months [Alternate text]( Now He Wants To Show You What He’s Trading Next Join Him Today at 12 PM ET LIVE [Register Now]( [I'm an image] ☑️ Oh, THAT deficit. The US federal government set a new record in June, marking the largest monthly budget deficit in the history of this great nation. That deficit, according to the US Treasury Department, [hit $864B](, a number so high that it puts most annual deficits to shame. It's not a d*ck measuring contest, but if it was, this month would win... Since the beginning of the fiscal year on October 1st, the national deficit has climbed to $2.74T, putting the country well on the way to hit the projected $3.7T deficit the Congressional Budget Office predicted. Just because you got something right, doesn’t mean you’re getting invited to happy hour, Congressional Budget Office. If you’re wondering, and you are, the money is mostly being spent providing relief to Americans that are down and out due to this little recession caused by that sick sonofab*tch, coronavirus. ☑️ Tapping in. Google announced that it would be [starting a $10B]( fund to help it get involved in the digital explosion currently underway in India. Why? Well, the country is the last great digital frontier. Nearly half of its 1.3B citizens are not online yet. But how do they spew their ill-researched opinions on public policy? In-person?! Through the fund, Google will be spending on equity investments, strategic partnerships, and infrastructure over the next five to seven years. Great, there goes Bing’s chance to be the official search engine of the Indian subcontinent. ☑️ What’s in a name. A lot, especially if you’re a certain NFL franchise based in Washington DC. After pressure from just about anyone with a moral compass, including sponsors FedEx and Nike, the Washington Redskins are [officially changing]( their name. Announced on Monday, the team said it would be retiring the name it held since 1932, despite owner Dan Snyder saying a few years back that he’d never change it. Money talks, Dan. The new name hasn’t yet been revealed, and Fanatics, the official team store partner of the NFL said it will keep selling merch until it sells out. I mean, that kind of defeats the purpose, but do whatever helps you sleep at night, Fanatics. ☑️ Back to work. As restaurants around the country open their doors, it only makes sense that Yelp would be [bringing]( back most of its furloughed employees next month. I mean who’s going to *allegedly* hide all the 5-star reviews until a respective small business buys Yelp ads? As the coronavirus reared its ugly, one star, head, Yelp furloughed almost 1.1k of its employees. It also laid off an additional 1k, who won’t be coming back. The returning employees will be working remotely, however, as Yelp’s extended its office closure until at least January of 2021. Plus, studies show it is more difficult for angry employees who didn’t get paid for the last few months to get violent if they aren’t in an office... 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