'Stunningly absent on detail': Tesla robotaxi event leaves investors wanting more

Published On Oct 11, 2024, 1:01 PM

Tesla's recent robotaxi event has left investors disappointed due to a lack of detailed information regarding the company's new autonomous vehicle models, the Cybercab and Robovan. CEO Elon Musk showcased these vehicles but did not provide critical information such as timelines for production, regulatory approval paths, safety features, and details about technology enhancements. This absence of detail led to a significant drop in Tesla's stock price, with analysts expressing mixed reviews—some were disappointed, while one noted optimistic aspects of the event. Overall, the stock was down over 7% on the day following the announcement, adding to a year-to-date decline of around 11%.