adam jonas, margin stanley is a wonderful analyst. i'm sure you know him.alysts get squeezed from time to time obviously, traders do and you've seen that in the move to the upside in tesla. adam raised the price target to 740, 270 is this a phenomenon that takes place and if so, are we seeing it manifest itself in tesla now? >> there can be some of that being an analyst is a difficult job. i can speak from personal experience there maybe just about some of the comments today related to that that tesla will burn $1 billion in cash in the june quarter. i am -- would just point out that there are -- there's about 8200 cars that were made in the march quarter that will be delivered in the june quarter. that's positive for free cash flow and they had a lot of materials that were purchased in the march quarter that ultimately weren't used until the june quarter so they didn't have to buy as much materials in the june quarter my sense is that they will be free cash flow positive in the june quarter i realize that is out sized. what i think it speaks to is the tesl

we're going to ask morgan stanley's adam jonas about that in the next hour in the meantime, stay with us. >>> good morning everybody i'm sue herera the u.s. carried out its first execution in 17 years. daniel lee lewis died in terre haute, utah. earlier this morning the supreme court ruled to let the execution go forward go to cnbc.com for more on the story. >>> in california, the orange county board of education recommends that schools be opened without social distancing or mask requirements, although local districts will have the final say. the guidance stands in stark contrast to los angeles and san diego, where there will be no in-person lessons this fall. >>> and in britain, the government has dropped plans to allow the use of huawei equipment to build out its 5g telephone network over concerns the phone company's gear could allow the chinese government to infiltrate uk networks with you are up to date. i'll see you in an hr.ou "squawk on the street" will be back after a quick break experience the adventure of a bigger world in a highly capable lexus suv at the golden opportunity

adam jonas brings up a great point. don't know if we can bring up a chart of tesla over the last week in the last week he points out that tesla's valuation has increased every single day by the entire amount of the market cap before you think about that, every single day its valuation is jumping about $25 billion in the last week. and that's why when you talk with people in the auto industry, separate from their comments about elon musk, there's i think a combination of envy as well as frustration that they feel like here's a guy who just says stuff, it's whacky, out in left field especially about things like self-driving cars and technology that's not fully developed. on the other hand, there is an element of people within the auto industry who will admit that what tesla has done here, particularly when you look at the software management system and the battery system, they're impressed with what tesla has done while they will not say that publicly, they will admit that tesla has gone out and has essentially carved out