Tesla Inc's shares fell 6 per cent premarket on Thursday, after Chief Executive Elon Musk and team's four-hour presentation failed to impress investors waiting for an affordable electric vehicle and a plan with a concrete timeline.
However, the event, where Musk revealed the EV maker's 'Master Plan 3', was short on details about the timeline or any new Tesla products. "Tesla had been on a tear so far in 2023. Then Musk raises his head above the parapet in an investor day presentation and the shares are sputtering ... It may just have been a case of failing to live up to the hype."
"The timeline and cost details were limited, and the event lacked a Tesla-like surprise," Wells Fargo analyst Colin Langan said.
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