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Tesla's value drops $60B after investors fail to hail self-driving 'Cybercab'
Investors criticised lack of detail about the ‘robotaxi’ showcased by Elon Musk
Shares in the electric carmaker tumbled to $217 at market close following an event in Hollywood, where the chief executive, Elon Musk, revealed a much-hyped driverless vehicle. Narayan added that some investors were hoping for a teaser about a lower-priced vehicle, with pedals and steering wheel, that would launch next year. Garrett Nelson, an analyst at investment research firm CFRA, said he was disappointed by the Cybercab reveal and a lack of detail about a cheaper vehicle.
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