Tesla stock had a rough week — here's what's next for the EV maker

Published On Oct 4, 2024, 2:10 PM

Tesla experienced a challenging week as its stock dropped nearly 4%, following a miss in third-quarter delivery estimates and the discontinuation of its lower-priced Model 3. Tesla delivered 462,890 electric vehicles, just shy of Wall Street's expectation of 463,897. Additionally, the company faced a recall of over 27,000 Cybertrucks due to safety compliance issues. Despite these setbacks, optimism arises from an upcoming Robotaxi event that analysts believe could be pivotal for the company's AI strategy. However, some analysts caution that such future technology could take years to translate into significant financial gains. Tesla's stock remains a point of contention among analysts, with some believing it to be undervalued while others recommend a more bearish outlook.