Tesla Stock Plummets as Elon Musk Fails to Sway Investors
Tesla's stock dropped 9% after disappointing earnings and revenue reports. Elon Musk's ambitious promises about robotaxis and other ventures are met with skepticism. Investors are becoming more cautious about the company's future.
Shares of Tesla (TSLA) dropped 9% after a disappointing earnings report, with earnings and revenue decreasing. The loss of a $7,500 tax credit and declining regulatory credit sales have added to financial challenges. CEO Elon Musk focused on future plans like a robotaxi service and humanoid robot, disappointing some investors. Analysts suggest investors are becoming more realistic about Tesla's challenges.
Musk's ambitious promises, such as the robotaxi service, have faced delays. While some analysts believe in Tesla's long-term vision, others are losing patience with Musk's unfulfilled pledges. The Cybertruck's sales fell short of projections, raising concerns about Tesla's ability to meet targets.
Despite Musk's grand plans, investors are increasingly scrutinizing Tesla's performance in the near term.
According to the source: CNN.
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