- Just before Tesla’s AI Day started, the stock price was $265.25. Tesla’s stock price has since fallen since then, and its price is currently $223.07.
- Many pointed out that the Optimus prototype was a disappointment, and Musk may have to change how high his expectations are in the future.
- Tesla stock has fallen since AI day with other issues like weaker-than-expected delivery results and news of Elon Musk announcing that he is buying Twitter – again.
Tesla AI Day was a highly anticipated event for investors and AI experts. Lots of high-profile projects are underway at Tesla — the robot, automated taxi service, and other self-driving cars, all of the parts that make these projects work. It’s fair to say that investors are overwhelmed by the event and other news that has emerged since then. As Musk mentioned, the event was more of a recruiting activity than anything else. The Optimus robot wasn’t ready despite its founder’s claims that it would change civilization.
We’ll see what happened Tesla share price Yet another AI day and everything else that has happened with Tesla since then.
What happened on Tesla’s AI Day?
Tesla’s AI Day was very technical with the event serving more as a platform to hire the brightest minds in AI rather than a showcase for investors. Many experts were hoping for a clear update on when self-driving cars and a working robot would be ready for launch.
Optimus clearly wasn’t a working robot yet, though Musk speculated that they’d be able to mass-produce it and sell it for less than $20,000 in three years. AI experts were unimpressed by the robot’s limited capabilities, and felt that Musk had gone beyond his promises.
The entire live stream of the event is on YouTube, and is over three hours long. The video currently has 1.6 million views. We have already looked at what It could mean Tesla AI Day for investors. Now we’ll look at what actually happened to the stock since then. Could you Read the full summary of Tesla’s AI Day hereIf you are interested in more.
What happened to Tesla stock after Artificial Intelligence Day?
Tesla AI Day was live on September 30th after trading hours. Tesla shares It closed on September 30 at $265.25. After the weekend, Tesla stock opened on Monday, October 3 at $254.50, and then closed at $242.40.
Tesla stock opened on October 7 at $233.93 and closed at $223.07, a 4.64% drop for the day.
It took investors a weekend to absorb what happened on Tesla’s AI Day, and not many were impressed with the humanoid robot prototype that appeared on stage at the start of the show. The show was frustrating because the two robots couldn’t do anything important. The robot was mocked, but Musk defended it by saying that people don’t understand its value.
Many feel that Elon needs to better manage expectations. The company doesn’t seem quite as close to self-driving cars as expected. An automated taxi service that’s supposed to be a “mix of Airbnb and Uber” isn’t ready for market either.
We should also note that the expectations for the third quarter weren’t as great as what analysts had expected. Tesla announced record vehicle deliveries in the third quarter on Sunday, October 2. However, investors were disappointed with the 343,830 electric vehicles delivered because analysts had expected vehicle deliveries in the range of 350,00 to 370,000. It’s worth noting that the record delivery figure was a 43% increase year over year and that Tesla produced 36,5923 EVs, but due to delivery issues, the actual number was below analyst estimates.
The company had to deal with a prolonged shutdown of its Shanghai factory due to the COVID-19 shutdown. The Berlin and Austin plants are increasing production. However, concerns remain about the demand for electric vehicles from Tesla with rising inflation and the potential threat global recession. There are certainly more economical electric cars on the market.
However, it was AI day on Friday and delivery results came out on Sunday, so it’s hard to fully pinpoint the factor that played a bigger role in Monday’s inventory drop. This was also the start of the week for Tesla; Things took a turn for the worse from there.
Elon Musk then shared a plan on Twitter for how he would handle the war in Ukraine, and many were skeptical of his solution. Then to complete it all, Elon Musk once again declared that he is Already buy Twitter after every thing.
Now what’s going on with the Tesla stock?
We can’t ignore the role that Tesla CEO Elon Musk plays in his company’s stock prices. The controversial CEO always seems to be in the media for some antics, as he presented a surprising plan to end the war in Ukraine by declaring that he is buying Twitter again. Musk went from introducing the robot Friday night at Tesla’s AI Day to sparking talks about buying Twitter a few days later, and all of these moves have hurt Tesla’s stock price.
Twitter’s $44 billion buyout bid worries many investors as this represents an exorbitant price for a social media platform, especially a deal that looks baffling at best. Musk has hinted that the Twitter purchase has something to do with his “everything app” which is referred to simply as “X” at the moment. There’s no more up-to-date information about the new app, but something seems to be brewing. Or it’s just propaganda of course.
The problem with these announcements is that investors aren’t sure how this might dampen Musk’s focus on Tesla. Investors are concerned that he may become more trained in managing Twitter if the purchase is made. Musk already has enough to eat, and buying the social media platform may be too much for one person.
What’s next for Tesla stock?
There is always something going on with Tesla stock. After a busy week for the company and its CEO, Elon Musk announced that Tesla will have its first Pepsi semi-truck by December. No additional financial details have been revealed, as neither Tesla nor Pepsi has commented on the details yet.
We’ll be watching to see what happens with Elon Musk’s purchase of Twitter because if he starts selling TSLA shares to fund this purchase, it will lead to many more questions than answers.
The recent drop in Tesla stock is worrying because some people fear that the stock price will continue to fall. The next earnings report is due on October 19, 2022, which will show how the company will perform in the third quarter. For now, we have to stay in touch as the show goes on with Tesla and Elon Musk.
How should you invest?
As you can see from the recent price swings with the Tesla stock, this can be a risky investment as there are many factors that come into play when you invest your money in this company. While there is a growing interest in the electric vehicle market due to the inflation-control law, investors still have a lot of concerns about the company and the overall economy, as Tesla is a premium brand. While electric vehicle deliveries have increased, there are growing concerns about what demand for the product will look like if the economy falls into a recession.
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The public appears to be torn about investing in Tesla. Some believe that this company is undervalued, while others swear that it is overvalued. We all know Tesla has to figure out how to prevent the stock from falling further during this volatile time in the market because further price hikes could lead to a further drop in the entire market. The annual Tesla AI Day left investors and experts with more questions to be answered soon.
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