Citi cuts Tesla stock target, urges investors to be patient
)'s stock has had a tough 2024. Elon Musk's pronouncements have kept investors on their toes, while recent reports and announcements have also resulted in some share price volatility.
Later that same day, he tweeted that the much-anticipated robotaxi would be unveiled on August 8 without providing any further details. The first is an event that feels similar to the 2019 Autonomy Day, in which “Tesla reveals a purpose-built RoboTaxi but without a convincing deployment path, leaving open questions about how Tesla will compete with the likes of Waymo/Cruise/Motional in dense urban domains.”
They believe that if the August 8th event delivers a credible and perhaps differentiated deployment strategy, that could emerge as a positive for the stock.
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