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Tesla Stock Tanks 10% as Elon Musk Issues Warning on Model 2 and Robo-Taxi
Tesla’s stock took a hit on Wednesday, dropping 10% after CEO Elon Musk issued a warning during the company’s first quarter earnings call. Musk revealed that the highly anticipated Model 2 may be delayed due to supply chain challenges and high demand for the Model 3 and Model Y.
Additionally, Musk announced that the rollout of Tesla’s Robo-Taxi service may also face delays as the company works to address regulatory hurdles and safety concerns.
Investors were disappointed by the news, as they had been eagerly awaiting updates on both the Model 2 and the Robo-Taxi service. The stock price plummeted following Musk’s comments.
Despite the setbacks, Musk remains confident in Tesla’s long-term prospects. He emphasized the company’s commitment to innovation and sustainability, and expressed optimism about the future of electric vehicles.
As Tesla works to overcome these challenges, investors will be closely watching for updates on the Model 2 and the Robo-Taxi service in the coming months.