Tesla disappoints with robotaxi event

Tesla's stock fell by over 7% on Friday after investors showed little enthusiasm for the launch of the new robotaxi. The "We, Robot" event on Thursday evening left more questions than answers and dimmed the hoped-for excitement about CEO Elon Musk's vision for a driverless future. Jefferies analysts were unimpressed by the new $30,000 robotaxi, named Cybercab, noting in a statement that Tesla is pursuing ambitious goals without sufficient feasibility evidence. The Cybercab is supposed to be fully autonomous and will initially be tested in Texas and California next year. However, delivery is not expected before 2027. Tesla's stock price has been on a downward trend for two weeks. These developments follow disappointing quarterly results, a recall, and the discontinuation of a more affordable model. Despite the volatility, the current price of $220 still exceeds the spring low of under $140. The community of investors and analysts, who had eagerly awaited the event, was disappointed, especially given the vague plans for the market launch of the Cybercab. Analysts from Raymond James and Morgan Stanley also criticized the lack of concrete information regarding Tesla's FSD technology and market strategy. Tesla also did not announce a cheaper vehicle variant, which was also seen as a disappointment. Counterpoints like those from Bank of America and Wedbush viewed the event more optimistically. The latter mentioned the impressive presentation of the humanoid robot Optimus, whose technology is also used in Tesla's vehicles. Wedbush analyst Dan Ives emphasized the visionary significance of the event and the remarkable progress with Optimus. Tesla's unclear communication indirectly relieves competitors like Uber and Lyft, whose stocks rose by about 10% following the event. Thus, Tesla's future remains exciting to watch, as opinions on Wall Street vary widely: some analysts recommend buying, while others give hold or sell recommendations.