Tesla's recent unveiling of the Cybercab robotaxi and the Robovan has received a
mixed reaction from the market, leading to a significant drop in their share price. The concept of a $30K autonomous vehicle with no steering wheel left some investors unimpressed, with the beans being labelled as 'underwhelming' and 'toothless'. This
scepticism was reflected in the shares of competitors Uber and Lyft, which jumped in the wake of the announcement. However, prominent figures like Jim Cramer and Cathie Wood's ARK demonstrated
continued support for the company. ARK offloaded Robinhood shares to
buy more Tesla stock, and Cramer advised investors to buy Tesla stock if they want to invest in Space. This support is tempered by
concerns regarding Tesla's
transparency and
delivery estimates. Tesla was reported to have missed delivery estimates for Q3 with results landing slightly shy of expectations, which also contributed to a dip in the stock price. Amid these reports, Musk advised that Tesla is returning to 0% financing but will require the purchase of the ‘Full Self-Driving’ option, providing further points of discussion in the market.
Tesla TSLA News Analytics from Tue, 24 Sep 2024 07:00:00 GMT to Sat, 12 Oct 2024 20:00:38 GMT -
Rating -5
- Innovation 6
- Information 4
- Rumor 6
