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.
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.
Collection
[
|
...
]