Tesla Postpones Its Anticipated "Robo-Taxi" Event and Stock Declines

Key Points:

• Tesla delays "robo-taxi" event by two months.
• Shareholders approve Elon Musk's compensation package.
• Tesla stock price faces a potential slight increase in today's opening.
• Tesla's purpose-built autonomous vehicle unveiling is rescheduled for October 10th.

Tesla's Latest News:

On Friday, August 19, 2022, Tesla announced the postponement of its much-anticipated "robo-taxi" event. Initially scheduled for August, the event has been pushed back by approximately two months.

Analyst Perspective:

William Stein, an analyst at Truist Securities, conducted test drives of Tesla's FSD system in April and July. His conclusion suggests that the technology is not yet ready for widespread deployment.

Shareholder Approval:

Tesla shareholders recently approved a compensation package for CEO Elon Musk. The package has drawn significant attention due to its substantial value.

Stock Performance:

Tesla's stock price has experienced a pause in its recent rally. Today's opening is anticipated to show a slight increase.

Autonomous Vehicle Unveiling:

Tesla had previously delayed the unveiling of its purpose-built autonomous vehicle. The unveiling is now scheduled for October 10th after several postponements.

Stock Market Impact:

Tesla's stock is likely to end its winning streak due to the announcement of the event's delay.

Sources:

• Seeking Alpha: Tesla Delays Robo-Taxi Event by Two Months
• Electrek: Tesla Shareholders Approve Elon Musk's Record-Setting Pay Package
• CNBC: Tesla Stock Set to Open Slightly Higher After Shareholder Meeting
• Teslarati: Tesla Autonomous 'Robotaxi' Unveils Date Faces New Delay
• The Verge: Tesla Stock Drops After Robotaxi Launch Gets Delayed