I actually saw earlier that Tesla stock was down 14% this week and I wondered why. Then later I saw that they had this event. Does anyone understand why the stock price fell?
>> Analysts described the presentation as "vague" and "underwhelming," noting a lack of specifics on Tesla's Full Self-Driving (FSD) technology and market approach That, plus worries about the ongoing performance (-5% revenue).
But the real reason might be the perception (voiced by some before the event) that he is stuck, at the moment. Following that, the Cybertaxi and the Trump support would be huge bets to get out of this situation. But, since their FSD and political loyalty are both questionable ...
What is he stuck with? Genuinely curious! That they can‘t sell more cars or more cheaply? I don‘t understand why people say that promising self-driving cars is vague for Tesla. From what I know their cars can already drive by themselves, so I can see them rolling out these cyber taxis pretty soon. More than any other company. And then there is obviously Starlink, which I think could turn out to be useful for autonomous cars, for obvious reasons.
>>> Tesla's FSD is officially classified as a Level 2 system. This means that while the car can handle some driving tasks, the driver must remain fully attentive and ready to take control at any time. Tesla has been edge, but isn't anymore. It's brand lost in value even to Mercedes, Porsche and BMW ... Starlink and SpaceX might be a different matter. The summary would be: "There has been concern on the stock market for a long time that the electric car pioneer could become a completely normal car manufacturer."