Cybercab flop costs Elon Musk $15 billion as Tesla shares take a dive

  • Posted on October 16, 2024
  • By Business News Today
  • 1 Views
Cybercab flop costs Elon Musk $15 billion as Tesla shares take a dive

Teslas "We, Robot" event showcased futuristic vehicles like the Cybercab and Robovan, but the lack of clear timelines and detailed plans left investors disappointed. Teslas stock dropped by over 9%, resulting in a $15 billion reduction in Elon Musks net worth, although he remains the worlds richest individual. Analysts voiced concerns over the companys self-driving technology and commercial viability, impacting market confidence in Tesla's ambitious goals.
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