Tesla Inc. shares fell nearly 7% on Thursday as investors continued to fault the electric-vehicle maker for hosting an investor day scant on the details and one that did little to bridge the gap between bulls and bears.
The bulk of the four-hour presentation was spent showcasing Tesla’s capabilities and airing global aspirations toward electrification and sustainability. “So we, like everyone else, were disappointed that the company wasn’t more forthcoming with information. But it would have been out of character for to reveal explicit financial guidance, so in this regard, we were neither surprised nor disappointed,” the analyst said.
Overall, Tesla still is “at the top of the EV mountain,” while competitors are now just making the climb, he said. Tesla’s approach to the new vehicle, focused on “getting initial design and production as locked-in as possible,” might suggest a longer time to market, Sacconaghi said.
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Investment Day was a Nothing Event
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Source: Reuters - 🏆 2. / 97 Read more »