Investors criticised lack of detail about the ‘robotaxi’ showcased by Elon Musk

Analysts criticise lack of detail about the ‘robotaxi’ showcased by CEO Elon Musk

Tesla shares fell nearly 9% on Friday, wiping about $60bn (£45bn) from the company’s value, after the long-awaited unveiling of its so-called robotaxi failed to excite investors.

Shares in the electric carmaker tumbled to $217 at market close following an event in Hollywood, where the chief executive, Elon Musk, revealed a much-hyped driverless vehicle. The stock price is down roughly 12% year-to-date.

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However, analysts said the event was short on detail and also expressed disappointment over a lack of specifics about other Tesla projects. Musk has a history of making grand projections about upcoming products and failing to follow through in the timeframe he has set, or at all.

    • brucethemoose@lemmy.world
      2·
      7 hours ago

      Tesla is a so called “meme stock” detached from how a company is actually performing. I’d say avoid it if you’re looking for “steady” buy and hold investing instead of (high tax) daytrader style gambling.

    • ayyy@sh.itjust.works
      21·
      8 hours ago

      Do you actually believe anything he said is true? Follow-up question, are you literate and do you have access to the internet?