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.
Possibly. If Trump wins what are the odds on him letting Elon’s crappy self driving cars be road legal as a thank you for all the election interference? But then what are the odds on Trump doing what he always does and abandoning everyone at the first sign of trouble. What if Trump loses?
It’s a lot of ifs. Don’t bet more than you can afford to lose is the only advice I can give.