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.

  • psud
    2·
    2 months ago

    Generally yes, buy when it is low. Have a look at some graphs of recent performance to see if this is lower than typical weekly low points

    Tesla does have room to expand; the biggest risk is that Musk does something stupid that damages Tesla, he has not done so yet - he seems competent at running (or has given important parts of the job to competent people) Tesla and SpaceX

    Safer investment is through exchange traded funds, especially those which track major indexes (also known as index funds). You buy these the same way you buy other stocks - you’re buying shares in the fund