Tesla (NASDAQ: TSLA) has been grabbing headlines yet again, with its stock price experiencing significant volatility in recent days. After a wave of investor optimism following the company’s latest delivery figures, things took a turn for the worse on Wednesday. A media report caused Tesla’s shares to plunge by over 8% during the trading session.
The reason behind this sudden drop? According to a report from Bloomberg, Tesla is reportedly postponing the unveiling of its highly anticipated robotaxi. This decision was made to allow the robotaxi team to make adjustments to the vehicle and create more prototypes. CEO Elon Musk had originally set the reveal date for Thursday, August 8, but now it looks like that will be pushed back by a couple of months, as per the Bloomberg sources.
Investors had been eagerly anticipating the robotaxi introduction, seeing it as a potential game-changer for Tesla’s revenue streams. Any delay in this significant product launch naturally raises concerns among shareholders. Despite the media reports, Tesla has not yet publicly commented on the situation.
Looking ahead, all eyes are now on Tesla’s upcoming second-quarter earnings report, scheduled to be released on Tuesday, July 23. This earnings release will provide valuable insights into the company’s financial performance and operational progress. Analysts are forecasting a slight decline in revenue and profitability compared to the same period last year, with revenue expected to be just over $24 billion and a projected profit per share of $0.61.
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As Tesla continues to navigate through these uncertain times, staying informed and making strategic investment decisions is crucial for investors. Stay tuned for more updates on Tesla and other investment opportunities with Extreme Investor Network.