Tesla shares drop 9% after Cybercab robotaxi reveal 'underwhelmed' investors
Publishing timestamp: 2024-10-11 08:47:39
Summary
Tesla shares fell after robotaxi event failed to impress investors. CEO Elon Musk revealed Cybercab concept vehicle and said consumers could buy one for under $30,000. Analysts were underwhelmed by lack of near-term opportunities highlighted and focus on fully autonomous driving future. Stock closed down nearly 9% on Friday. Musk also announced plans for autonomous, electric Robovan. Analysts expressed disappointment in lack of details and substance in presentation. Tesla's goal of having fleet of self-driving cars on public roads will take years.
Sentiment: NEGATIVE
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