It appears that after Elon Musk revealed Tesla's most recent innovations, investors were a little "disappointed". Tesla held a "We, Robot" event at the Warner Bros. Studios in Burbank, California, last week (October 8). There, the company unveiled the Cybercab and Robovan, two of its newest designs, as well as the upcoming Optimus robots.
Unfortunately, not everyone was impressed by Elon Musk's presentation of the automotive company's next chapter. Some people were afraid of the robots, and analysts weren't too impressed either. Musk claimed that the Optimus robots could perform nearly any task that you would be too lazy to complete on your own.
"It will do anything you want," he stated. "It can take care of your kids, walk your dog, mow your lawn, and even get your groceries. It can even be a teacher. Just be friendly and bring you drinks. Anything that comes to mind will work."
The self-driving Robotaxi, known as the Cybercab, was unveiled with just two doors, no pedals, and an unclear release schedule. Musk stated that production would begin "sometime before 2027," but it was unclear exactly when this would happen. Analysts and investors also took note of the lack of information.
"Heading into what might have been the most highly anticipated product unveil in Tesla's history, we had a number of expectations of what the market might learn that we felt were consequential to the direction and debate around the stock," Morgan Stanley analyst Adam Jones wrote in a note to clients, as cited by Business Insider.
"The presentation's content and level of detail generally disappointed us."
Additionally, it appears that Musk's overall net worth has been impacted by the disappointment. Tesla's stock price dropped by more than nine percent on Friday, with shares trading for $217.80 as opposed to $238.77 a share.