With Tesla Stock Down 31% In 2024, Musk’s Robotaxi Push Aids Short Sellers

“With TeslaTSLA +0.5% stock down 31% this year as of April 12, is the electric vehicle company’s stock cheap or overpriced?..

Tesla’s pivot to Robotaxis has little chance of restoring revenue growth.
Tesla appears reluctant to lower prices enough to challenge Chinese rivals who offer consumers much more affordable EVs…

In October 2019, Musk predicted Tesla would have one million robotaxis on the road in 2020, according to The Drive — a million more than Tesla had produced in April 2024.

“They are clearly years away from getting there,” Philip Koopman, associate professor of electrical and computer engineering at Carnegie Mellon University, told MarketWatch.

“This is a multi-year problem. Any claim of ‘we are going to solve it right away, even though we clearly haven’t solved it, but in less than 12 months it will be solved and then ready to scale,’ is just not a credible claim by anyone, I see no evidence that that is achievable by anyone anytime soon. Nobody is close,” Koopman added.”

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