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.
I just continue to be amazed that, instead of the old, tried-and-true method of giving people what they want—a solid, reliable car at a good price, and a stellar charging network in the places people want to be—a man of his means keeps trying weird gimmicks.
It’s not so surprising when you consider the fact that he’s nothing but a charlatan.
Just a colossal idiot with enough money and little enough self awareness that everyone is indulging his every whim and he never stops to consider that maybe he isn’t a visionary and a genius.