“This is all about Powell’s comments, but the cautionary remarks about future sales growth in so many earnings announcements is driving home the essential point: fighting inflation will inflict some pain,” said Jeanette Garretty. 

 So the market got spooked, but so many other dynamics are happening.  Inflation in the US is driving people out of house ownership. Inflation in every aspect of our life will make the purchase of a new car a very expensive proposition for many Americans and Europeans as our friends from Europe noticed (Pavel, Andersen).

Used cars prices went up 40% !!! Add to it the polarization of the World which we have not seen since the Cold War and it is obvious that some Funds and investors are panicking.

 The near future looks very questionable, especially if the Ukraine war is to continue. Seems the only cool heads are in Israel and Turkey which are trying to set up negotiations. The end of the War would benefit the stock market tremendously. The continuation can lead to the conflict getting out of control with a catastrophic complication for the stock market and all of us.

 Interesting and worrisome bit of news- China is buying Russian LNG assets.  Some international banks are decreasing dollar assets and buying more euros, Chinese and Japanese yen. 

Conclusion: upcoming 50 pt interest increase,  poor quarterly reports, the War, out control inflation. All this can slow EV development. It will still happen but not as fast as we all think. For LAC SP $24 continues to be concreated support but I feel we will have a positive bounce next week.

  LAC as a company will be OK  but talking about $100 a share needs to wait. More likely $40-sh by the start of production. JMHO.