Tesla faced a sharp decline in stock value after a disappointing robotaxi event, losing over $60 billion in market capitalization. The event revealed a lack of concrete rollout plans, leaving analysts and investors reevaluating the stock's lofty valuation. Wall Street noted that Tesla's stock relies heavily on unproven ventures like Full Self-Driving and robotaxis. The absence of near-term catalysts, combined with increased competition from GM and shrinking operating margins, has led to growing concerns. With third-quarter earnings on the horizon, the focus shifts to whether Tesla can deliver on its promises.
