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Tesla shares drop 6% in premarket after Cybercab robotaxi reveal fails to impress
Shares of electric vehicle maker Tesla tumbled Friday after the company's long-awaited robotaxi event failed to impress investors.
In reaction to the Thursday event, analysts at Barclays said that the revelations had failed to highlight any near-term opportunities for Tesla, instead prioritizing Musk's vision for a fully autonomous driving future. The event "overall disappointed expectations on a number of areas: a lack of data regarding rate-of-change on FSD/tech, ride-share economics and go-to-market strategy," Morgan Stanley's analysts wrote in a note Friday. Tesla shares fell in premarket trading Friday after the electric vehicle maker's long-awaited robotaxi event failed to impress investors.
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