this post was submitted on 13 Oct 2024
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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.

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.

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[–] KrankyKong@lemmy.world 5 points 23 hours ago (8 children)

I'm just getting into stocks. Would this be a good time to invest now that it's low?

[–] Blackmist@feddit.uk 21 points 23 hours ago (5 children)

Investing is where you buy into market trackers and have no more than a couple of percent in any given company.

What you're talking about is gambling.

[–] KrankyKong@lemmy.world 14 points 23 hours ago* (last edited 18 hours ago) (4 children)

Gotcha. Would now be a good time to gamble?

[–] machineLearner@lemmy.world 3 points 22 hours ago

depends on how much faith you have in elons ability to bullshit the masses. I wouldn’t do it, but some have gotten money off that gambit.

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