Elon Musk He's good at two things. Having lots of kids and offending people. now, Tesla CEO His extremely harsh announcement has angered investors. Ambiguous social media posts In response to a report from Reuters that The planned $25,000 Tesla died. He essentially accused the media of “lying” on the social media platform Twitter.
But that's not the crux of the problem for investors.What's more, they're angry that Musk is being so wishful thinking overall. model 2 versus About robotaxisaccording to Reuters. Did it happen or not, Elon? That's not their only problem.Investors also very much want sales and stock prices to fall. tesla I'm working on finally finishing it.I can imagine they weren't thrilled with the news The Austin, Texas-based automaker just laid off 10 percent of its global workforce..
Here's what Wall Street analysts are saying Reuters:
After the layoffs were revealed, analysts at Wedbush Securities said that when Tesla holds an earnings call scheduled for April 23, “the public wants answers and needs answers.'' ”, he wrote. They cited Tesla's months-long “horror show” of bad news and called for a clear “strategic vision” with the Model 2 as a key component.
[…]
Wedbush senior equity analyst Dan Ives told Reuters that Musk's silence on the Model 2 was “gut-wrenching” for Tesla investors.
Ross Gerber, president and CEO of Gerber Kawasaki Wealth and Investment Management and a Tesla investor, put it more bluntly: “If Tesla doesn't release this car, there's no point in investing in Tesla,” he said.
[…]
The Street also asked for clarification on another important aspect of the April 5 article. After abandoning its affordable car project, Tesla plans to move forward with self-driving robotaxis on the same small car platform.
Major banks are also holding their breath. teslaaccording to Reuters:
Deutsche Bank's analysis said that, like other banks, it is “awaiting clarification from Tesla.” The magazine said the cancellation of the Model 2 “completely changes the game” and says investors who had bet on Tesla's growth in the mass market will now throw in the towel, saying that “AI/technology with a fairly long-term view “Investors” will make way for robotaxi development.
Wedbush sees a bleak outlook without the Model 2. Analysts at Wedbush wrote last week that discontinuing the car is a “disastrous failure” for Tesla's growth prospects and that robotaxis are not a “magic model” to replace it.
Mr Musk said Just recently in January Tesla plans to deliver Model 2 in late 2025, confirms exclusive productivity Reuters report About those plans. “It's like the Twilight Zone for the company to do a 180 in three months,” Wedbush's Ives said. Ives said Tesla was already behind schedule on its long-promised affordable model.
“A lot of it is self-inflicted, and there are no adults in the room,” he says.
To make things even more confusing, musk Also posted robotaxi ' will be released on August 8th, but no further information was disclosed. It's incredibly likely that August 8th will come and go and the robotaxi will not be released to the public.To be fair, Musk didn't say anything. Year right. He also said that the focus on robotaxis is “A dazzlingly obvious movement”
For the most part, investors say they seem to like the idea. Reuters. To be honest, it feels like much of the robotaxi chatter this time around is aimed at preventing the stock from falling further.
Since the April 5 Reuters report, some investors have welcomed the idea of focusing on robotaxis rather than Model 2. Musk's first two posts helped Tesla reverse losses, which saw its shares fall 6% after a Reuters report about the affordable model.
Still, Musk's comments left investors speculating about what kind of vehicles Tesla plans to build next and, importantly, on what schedule. Monday's news of layoffs sent the stock tumbling again, now down more than 45% from its recent peak in July.
So, Will model 2 be coming?? Probably not.? Will robotaxis come? That's also unlikely.teeth tesla Are we about to face real economic consequences from Elon Musk's actions? Almost certainly.
For more on this whole Model 2 vs. robotaxi debacle, head over to Reuters.
A version of this article was originally posted on Jalopnik.
