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Investors are disappointed there was no low-cost electric vehicle and no clear path to robotaxis hitting the road.
Tesla (TSLA -4.06%) introduced the robotaxi/robocab last night at an event in Los Angeles. This morning, investors woke up to shares trading down 10%.
On the surface, this seems crazy, but as Travis Hoium explains in this video, Tesla may be sacrificing the next three or four years by chasing a product that may never pay off.
*Stock prices used were end-of-day prices of Oct. 11, 2024. The video was published on Oct. 11, 2024.
Travis Hoium has positions in General Motors. The Motley Fool has positions in and recommends Tesla, Uber Technologies, and Volkswagen. The Motley Fool recommends General Motors and Volkswagen Ag and recommends the following options: long January 2025 $25 calls on General Motors. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.
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