
NASDAQ:TSLA
They just unveiled their much-awaited robotaxis; shares plunged over 8% today. Tesla needed to impress, because EV growth is slowing and there's more competition. When shares bottomed last April, Musk pivoted by changing the conversation to self-driving cars. Since then, shares nearly doubled. Then the showcase happened and Musk offered very few details, including financials and a timeline. Meanwhile, competitor Waymo keep moving ahead. He won't buy this or short it; don't underestimate Musk.
This and GOOG are blamed for today's deep sell-off, but didn't the street expect TSLA to have a weak quarter yesterday. It's hard to hold onto their big gains from the $170s (to the $250s). Elon Musk has several ventures going, like humanoid robots, self-driving cars, energy storage (this quarter, this sector doubled) and semis, though down the road. It's more than just a car company, run by a smart CEO and worth buying on his dip. But you have to be long-term and patient.
It's market cap could top $1 billion, but it's risky. Shares are up 11 straight days. It needs to show that Tesla Energy will become a bigger part of its business. Its EV sales are levelling off, though self-driving cars could be a big thing. We need to hear what Musk has to say about robo taxis in China.
Tesla, Inc. designs, develops, manufactures, leases, and sells electric vehicles, and energy generation and storage systems in the United States, China, and internationally. It operates in two segments, Automotive, and Energy Generation and Storage. The Automotive segment offers electric vehicles, as well as sells automotive regulatory credits; and non-warranty after-sales vehicle, used vehicles, retail merchandise, and vehicle insurance services. This segment also provides sedans and sport utility vehicles through direct and used vehicle sales, a network of Tesla Superchargers, and in-app upgrades; purchase financing and leasing services; services for electric vehicles through its company-owned service locations and Tesla mobile service technicians; and vehicle limited warranties and extended service plans. The Energy Generation and Storage segment engages in the design, manufacture, installation, sale, and leasing of solar energy generation and energy storage products, and related services to residential, commercial, and industrial customers and utilities through its website, stores, and galleries, as well as through a network of channel partners; and provision of service and repairs to its energy product customers, including under warranty, as well as various financing options to its solar customers. Social media mentions are up 75% in the past 24h.