Home » Business » Tesla shares drop 7%, expectations fall without low-priced car announcement | Reuters

Tesla shares drop 7%, expectations fall without low-priced car announcement | Reuters

US electric vehicle (EV) major Tesla shares fell about 7% in the market on the 2nd. Chief Executive Officer Elon Musk and others gave a four-hour presentation at an investor briefing on Wednesday, but did not reveal plans for the much-anticipated low-cost model. (Reuters/Arnd Wiegmann/, 2023)

[2日 ロイター] – US electric vehicle (EV) giant Tesla shares fell about 7% in the market on the 2nd. Chief Executive Officer Elon Musk and others gave a four-hour presentation at an investor briefing on Wednesday, but did not reveal plans for the much-anticipated low-cost model.

“The market was expecting big announcements, such as more affordable new cars,” said Russ Mold, investment director at AJ Bell.

“The concept alone failed to do one finishing touch: it actually offered a low-cost car,” said Jessica Caldwell, executive director of Edmunds.

However, after falling about 60% in 2022, Tesla shares have recovered their losses so far this year.

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