Recently, Tesla (TSLA, Financial) experienced a significant decline in its stock performance, dropping over 10% in the last three trading sessions. As of the latest update, the stock fell an additional 1.66%, bringing its price to $214.23.
The decline correlates with the announcements made during Tesla's Robotaxi Day. The event featured the debut of the autonomous taxi prototype Cybercab and the driverless bus Robovan. Tesla's CEO, Elon Musk, mentioned that the Cybercab could potentially be available for taxi dispatch companies by 2027.
However, expectations around the event were reportedly unmet, leading to market disappointment. Morgan Stanley analyst Adam Jonas expressed dissatisfaction with the lack of detailed information provided during the presentation.
