Cantor analysts said their bullishness on Tesla crystallized after they visited the company's Gigafactory and AI data centers in Austin, Texas.
The article from Business Insider discusses the significant drop in Tesla's stock price, which has fallen by 34% in 2024, erasing over $200 billion in market value. This decline is attributed to several factors including Tesla's failure to meet delivery expectations, with the company reporting its first year-over-year sales drop since 2020. Despite these setbacks, Tesla's CEO Elon Musk remains optimistic, focusing on future technologies like Full Self-Driving (FSD) capabilities, the robotaxi service, and the Optimus humanoid robot. Musk has set ambitious goals for these projects, predicting that FSD could be ready by the end of 2024, with robotaxis potentially generating significant revenue by 2025. However, skepticism persists among investors and analysts due to previous delays and the high costs associated with these ventures. The article also touches on the broader market's reaction, with Tesla's stock price volatility reflecting concerns over its valuation, competition in the EV market, and the feasibility of Musk's futuristic visions.
Automotive & Transportation
