Tesla’s TSLA stock fell about 2.7% in overnight trading on brokerage Robinhood after the company’s robotaxi announcement event late Thursday failed to inspire confidence among investors.
What Happened: At an event in Los Angeles on Thursday, Tesla unveiled a two-seater CyberCab that can drive itself and a pedalless RoboVan that can seat about 20 passengers.
However, the company did not disclose the price of the Robovan, and details were sparse at the event. Musk also said a smaller CyberCab won’t join the company’s self-driving taxi fleet until 2026. The CEO also said he was often optimistic about the schedule and hinted at possible delays.
Why it matters: Tesla investors hope the robotaxi unveiling event will give the stock a much-needed boost after the company’s third-quarter delivery numbers announced earlier this month sent the stock down. I was expecting.
Tesla delivered 462,890 vehicles in the third quarter, up 6.4% year over year but below expectations.
The company previously said it expected delivery growth this year to be lower than last year. However, specific delivery guidance for this year has not been announced.
Some analysts, including Gene Munster, managing partner at Deepwater Asset Management, said at Thursday’s event that Tesla is looking to increase deliveries next year, in addition to robotaxis, cheaper mass-market vehicles. I expected them to announce an EV.
Price Action: At the time of writing, Tesla stock was down 2.7% in overnight trading on Robinhood. Tesla shares are down nearly 4% year-to-date since closing 0.95% lower at $238.77 on Thursday, according to data from Benzinga Pro.
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