Yahoo
Thursday night's electronic dance music-infused event had the signature trappings of Musk's salesmanship, but some Tesla investors and experts said they were hoping for more concrete details on how the company plans to transform from an automaker into an autonomous driving and artificial intelligence titan with a solid business plan.
Tesla shares fell 6% before the bell on Friday. The stock, which has been pummeled in recent years by fears of cheaper EV rivals eating into Tesla's market share, is up nearly 50% since April when Musk announced the shift to robotaxis. Still, shares are down 8% over the last year, compared with a 33% increase in the broad-market S&P 500 index.
"His vision is lovely, but somebody has to actualize it," said Ross Gerber, a Tesla shareholder and CEO of Gerber Kawasaki Wealth and Investment Management. "For now, for the next 24 months, Tesla has to sell EVs. Why aren't we focused on that?"