Tesla Drops 6% as Cybercab Update Underwhelms Wall Street — SkimNews
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- Tesla shares slid 6% on Friday after Thursday's invite-only Cybercab event in Austin offered no livestream and no appearance by CEO Elon Musk.
- RBC Capital Markets analysts wrote that Tesla provided only "limited new incremental disclosure" on pricing, production cadence, and regulatory approvals, calling the lack of livestream a notable departure from Tesla's traditional reveals.
- NHTSA initiated an "audit query" on Thursday to determine whether Tesla properly self-certified the Cybercab as safe and compliant with federal safety standards.
- Wells Fargo analysts headlined their note "TSLA Cybercab Launch Event Underwhelms" and flagged "early execution issues" — including routing errors, missed destinations, and excessive wait times reported by Tesla Robotaxi app users.
- Tesla said Robotaxi app users can now book a driverless Cybercab trip within a geofenced area around Austin; the vehicle, in production since April, is a two-seat model with scissor doors and no steering wheel or pedals.
- The Friday drop reversed a 5.4% stock gain on Thursday built up ahead of the event.
Why it matters: Tesla first showed off the Cybercab almost two years ago and has been in production since April, yet still leaves Wall Street without clarity on pricing, production cadence, or regulatory standing — and a federal safety audit now questions whether Tesla properly self-certified the vehicle for public roads.
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