"Investors appear to be buying into Elon Musk's vision of autonomous driving and a robotaxi service, as evidenced by a recent share price rally despite significant car sales declines."
"Tesla experienced a dramatic profit decline of 71 percent in Q1 this year, which underlines the challenges ahead for the company amid expectations of high future performance."
Tesla's stock surged almost four percent due to investor confidence in Elon Musk's autonomous driving and robotaxi ambitions, despite a 14 percent drop in car sales, marking the largest decline for the company. Analysts expect poor performance ahead, with profits tumbling 71 percent in Q1. The company's market cap approaches $1 trillion, making it the most valuable car manufacturer globally, yet its actual worth is debated, with projected shares potentially valued below $100. The rollout of the robotaxi service has been disappointing, currently limited to a small area and dependent on human oversight.
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