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.

  • Blackmist@feddit.ukEnglish
    221·
    2 months ago

    Investing is where you buy into market trackers and have no more than a couple of percent in any given company.

    What you’re talking about is gambling.

      • Blackmist@feddit.ukEnglish
        10·
        2 months ago

        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.

      • FlowVoid@lemmy.worldEnglish
        7·
        2 months ago

        The stock price/earnings ratio is still quite high. So based on fundamentals it’s still not a good buy. Instead, you’re gambling that in the future you’ll hear more unexpected good news from Tesla than unexpected bad news.

        Personally, I wouldn’t take that bet.

      • machineLearner@lemmy.world
        3·
        2 months ago

        depends on how much faith you have in elons ability to bullshit the masses. I wouldn’t do it, but some have gotten money off that gambit.