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.

  • Chestnut@lemmy.world
    0·
    7 hours ago

    For clarity, this means the stock is back to the price it was in September. I know car-man-bad but I get tired of these sensationalized articles that are only shared because they confirm that someone we like is bad actually

  • VantaBrandon@lemmy.world
    0·
    8 hours ago

    Tesla is no longer a serious company, Elon’s brand has gone from tarnished to trashed. TSLA might be holding on for dear life but ELON is a penny stock now

  • EnderMB@lemmy.world
    0·
    9 hours ago

    I just don’t get why they still have him as CEO.

    The man spends his time mostly on Twitter, driving it into the ground to simp for Trump. He’s taken obscene amounts of money from it, while failing to offer the simplest of products from its roadmap a decade ago - an affordable electric car.

    If they don’t pivot in the next few years, they’ll run the risk of Tesla being leapfrogged to market more than it already has, with an inferior product to practically everyone that enters the EV market.

    I still fully maintain that Musk will push Tesla towards making a petrol-powered car within the next few years, so IMO the board needs to get rid before that becomes a thing.

  • nutsack@lemmy.world
    0·
    9 hours ago

    Elon musk extended family will own the entire Mars facility production and open hell portal?

  • samokosik@lemmy.world
    0·
    13 hours ago

    Tesla and Elon are one of the reasons why I don’t but individual stocks but I rather get indices… It’s just the lack of consistency and the fact a single person can make you lose money…

  • b161@lemmy.blahaj.zone
    0·
    13 hours ago

    Nooo they didn’t like the self-driving robotaxi that isn’t self driving. What about the bus that can’t go over a pothole? No? How about robots that are controlled and voiced by humans? Damn. Tough crowd.

    • Aceticon@lemmy.world
      0·
      8 hours ago

      Also there’s this whole track record of Elon Musk’s demonstrations were there’s no clear independent validation that they actually work as we are being said they to or they’re merelly announcements or concepts: those things are invariably complete total bollock at best bordering on Fraud.

      I reckon that finally he has entirely exhausted both the benefit of the doubt that his demonstrations are in any way honest and representative of real products present or future, and the idea that “he might be bullshitting but he’ll pull in enough suckers that early investors will win from going all in even if it’s 100% bollocks”.

      The Midas Touch of Elon’s bullshit has finally ran its course and turned into a Shit Touch.

  • SloppyPuppy@lemmy.world
    0·
    14 hours ago

    “And all transport will be fully autonomous within 50 years.”

    Bro even cold fusion reactors have less estimation than that.

    • Fedizen@lemmy.world
      0·
      16 hours ago

      none. But they would have to be electric so that they don’t lose fuel economy as 3x the number of cars on the road will 100% create traffic jams.

      • Scolding7300@lemmy.world
        0·
        14 hours ago

        And even then the amount of energy wasted on traveling empty from drop offs to pickups would probably be collossal. Not to speak of the infrastructure we don’t have to keep these charged

      • Fedizen@lemmy.world
        0·
        16 hours ago

        the feds would have to start issueing grants for light rail like they do with roads for that to happen. Otherwise cities will always default to a free road over a paid train system

  • affiliate@lemmy.world
    0·
    22 hours ago

    one of my old computer science professors said self driving cars “have been 5 years away for the past 20 years”. still rings true to this day

      • ✺roguetrick✺@lemmy.world
        0·
        20 hours ago

        Oh nobody’s predicting net positive fusion anytime soon. There’s huge materials hurdles in both magnetic confinement and inertial confinement while also regenerating tritium. Neutron radiation just does not play nice.

  • Gammelfisch@lemmy.world
    0·
    1 day ago

    Awe shucks. Tesla should boot out Dork MAGAT and bring back Eberhard and Tarpenning. When Leon leaves, then I will consider a Tesla.