The shareholders did not appreciate Elon Musk’s announcements at all and made it known by sanctioning the title.
Elon Musk had a bunch of announcements in his bag for Tesla AI Day, which was held this Friday, September 30.
A disappointing Tesla AI Day according to analysts
Among the many projects presented by the turbulent billionaire, it was the manufacturer’s first robot that created the event. Optimus, that’s his little name, has indeed taken his first stammering steps on stage by walking a few meters and then greeting the crowd present at the event.
While Tesla shared a video of Optimus performing a few more complex tasks, the robot appears surprisingly static, especially compared to devices developed by Boston Dynamics.
Elon Musk, he ignores the criticism and indicated that “sOnly a few people understand the value of Tesla Bot “. Indeed, the robot developed by Tesla is designed to facilitate factory production and thus reduce production costs. The price of the robot would also be, still according to Elon Musk, ” less than $20,000 “.
Shareholders no longer seduced by Elon Musk’s promises and want results
This presentation with great fanfare, however, did not impress the shareholders of Tesla, who made it known by sanctioning the stock market. The Tesla action indeed recorded a drop of 8%, while the NASDAQ rose by 2% over the same period.
The market seems to have been disappointed by Tesla’s announcements, particularly in terms of autonomous driving. If the manufacturer showed its current developments and the progress made, it did not give a clear vision concerning the integration of these technologies in its vehicles. Investors now want a timetable and Elon Musk’s promises no longer seem to appeal as before.
Another element that cooled the market: Tesla announced vehicle deliveries lower than analysts’ forecasts. The automaker delivered 343,000 Teslas and produced 365,000 in the third quarter of 2022. Experts expected 364,660 cars shipped to customers over the period.
Tesla finally suffered from the teasing cleverly maintained by Elon Musk and from a final result well below expectations for a robot finally designed for industrial use. Elon Musk’s star has apparently faded in recent months, and in particular since the incredible attempt to take over Twitter and the trial which begins in the coming days, and shareholders want to be reassured, even if it means addressing a blow warning from Wall Street.
Source : Electrek
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