Tesla logo and Elon Musk silhouette are seen in this illustration taken, December 19, 2022. REUTERS/Dado Ruvic/Illustrationshares fell about 7% on Thursday, after Chief Executive Elon Musk and team's four-hour presentation failed to impress investors looking out for an announcement on an affordable electric car and a plan with a concrete timeline.
Musk and more than a dozen executives laid out fresh plans to cut assembly costs by half, invest in a new plant in Mexico and discussed the company's innovation in managing its operations at itsHowever, the event, where Musk revealed the EV maker's 'Master Plan 3', was short on details about the timeline or any new Tesla products.
"The markets were primed for a big announcement, perhaps on something like a more affordable new model," said Russ Mould, investment director at AJ Bell. "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."
Wrong… I’m more excited than ever! Media like you doesn’t get it right one more..
Too bad elonmusk
An anti-democracy, egomaniacal white supremacist failed to impress? Weird
there's just not enough sexbots yet